Slow market sentiment forced Thai maker to cut PE offers in China

Chinese players reportedly receiving new weekly offers for PE from a major Thai producer with reduction for all grades. The producer implemented $10-15/ton decreases on HDPE cargoes from last week, reaching $1115/ton for film and $1130/ton for yarn grade, $10-20/ton reduction for LDPE offers to reach $1170/ton for LDPE film and $1190/ton for LDPE heavy duty, meanwhile metallocene LLDPE at $1220/ton, all based on CFR China, LC AS term.

Players attributed softer price trend to recent weaker market sentiment meanwhile most of the buyers are on the wait and see stance, expecting for lower price level.  A trader commented, “We heard that there are Thailand HD film deals below $1100/ton threshold but deals concluded are not overwhelming. Meanwhile, there are also getting more deep sea cargoes inviting for bids, hence we remain low confidence for the near term.”