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Given the persistently weak demand in local China market, a major Thailand producer decided to down-adjust offers for specific PE grades to China this week with hope to stimulate buying interest. Latest price announcement indicated $10/ton reduction on both HDPE and LDPE cargoes, while mPE and LLDPE film hold steady.    

The maker’s latest price list is shown in the following table:

However, such minor reduction does not seem to be attractive enough to Chinese buyers, who have been adopting a wait and see position over the past week amid falling domestic offers.

“Our customers are very conservative about making purchases claiming that local cargoes are also competitive at the moment. Purchasing activities are in gridlock and we fear further reduction in the coming week,” a trader commented.