Further price cut for domestic PP, PE offers in Malaysia

Market players reportedly received further MYR50/ton ($11/ton) decrease of PP and PE offers from a major producer in local Malaysia, making a total reduction of MYR150/ton ($34/ton) compared to last month.

A trader commented, “Domestic sentiment is comparatively weaker compared to last month, and lots of the converters were claiming to have slower end product orders than their expectations, eventually pushing local sellers to cut price further in order to attract some deals.”