SEA major up adjusted PP offers to regional market

According to market sources, a major Southeast Asian producer has up-adjusted their February delivery offers for PP to regional buyers from initial prices announced in the previous week. The maker however, reportedly maintains LDPE offer unchanged.

Latest PP offers indicated $20/ton increased on homo-PP cargoes, to reach $1160/ton, $30/ton hike on PP block copolymer to reach $1280/ton and $40/ton up for PP random copolymer to reach $1340/ton, all based on CIF Southeast Asia, LC AS term.

A distributor source informed, “We received good respond from market players after new offer announced last week. Our principal supplier is not having any inventory pressure at the moment, which support such adjustment. Besides, customers who are not confirming purchases by the given due date of 31 January, the supplier would hold back the cargoes as inventories. Post Lunar New Year holiday outlook appears to be very positive.”