Thailand's PP, PE offers to Indonesia down for second consecutive week

A major Thailand producer has announced weekly offers to Indonesia with $10-20/ton reduction from last week, marking two straight weeks of falling prices. Players blamed weak local market and the general softening sentiment in the region for the price cut. The latest price list is shown in the following table:

Buyers in the country are still reluctant to accept the latest offers, pointing to the available of more competitive cargoes from other Southeast Asian suppliers. A buyer commented, “Non-dutiable homo-PP cargoes from Australia has dropped to $1130/ton CIF Indonesia term, and we expect Southeast Asian origin to match this level in the near term. We prefer only to source material hand to mouth basis to avoid any price risk.”