Southeast Asian major lifted PP, LDPE prices to region

According to market sources, another major Southeast Asian producer has implemented price hike on December delivery PP and LDPE cargoes to the region despite weaker than expected demand condition here.

Latest offers to Vietnam, Malaysia and Indonesia indicated some $20/ton increased on all PP parcels and $50/ton on all LDPE grades. Current PP prices stand at $1120/on for homo-PP, $1220/ton for PP block copolymers and $1280/ton for PP random copolymer, CIF/DAP Southeast Asia, LC AS term.

Prices for LDPE meanwhile reported at $1360/ton for film, $1400/ton for injection and $1430/ton for lamination grades with the same payment and shipment term.

A distributor offered on behalf of the producer informed, “The PP market is surprising weak in spite of the maintenance shutdown season. On the other hand, our principal supplier is very optimistic about LDPE demand, especially in China, as the preparation for Chinese New year order would continue to keep the market on the firm note.”