Thai producer cut HDPE, PP prices to Vietnam, Indonesia

A major Thailand producer has announced fresh weekly HDPE and PP prices to Vietnam and Indonesia with reduction compared to late April. However, it appears that initial market respond toward the latest price list is not as positive as expected.

The maker opens offers to Vietnam at $1140/ton for HDPE film and $1150/ton for HDPE blow molding CIF Vietnam, LC AS term today. A source close to the producer commented, “Vietnamese buyers are placing bid at $20-30/ton lower than initial offer. Buyers are generally expecting further reduction toward end of the month, hence very reluctant to make purchases at the moment.”

Meanwhile, new offers to Indonesia indicated $30/ton reduction for homo-PP, PP film and HDPE, reaching $1170/ton for yarn and injection, $1200 for PP film and HDPE. PP block copolymer reduced only $20/ton to reach $1210/ton, all based on CIF Indonesia, LC AS term. Buyers in this market are also not showing strong buying interest claiming more competitive local prices at the moment.