Southeast Asian maker lifted metallocene PE prices to Indonesia

Indonesian buyers this week reported to have received fresh offers for metallocene PE (mPE) from couple of major Southeast Asian producer at higher levels. Market attributed such movement to the recent surge in ethylene costs, though the number of deals concluded is low.

Thailand mPE C8 witness $70/ton increased week on week, reaching $1300/ton CIF Indonesia, LS AS term with a converter said, “We have stocked up some quantity at lower prices and at the moment we prefer to wait on the side-line. Meanwhile, we are also watching out for new cargoes from domestic producer.”

Meanwhile, traders also lifted offers for Singaporean mPE C6 by $40/ton, bringing latest price level to $1280/ton CIF Indonesia, LC AS term. Regular buyers for this grade are planning to make small replenishment with a source added, “Prices are too high and we prefer to be cautious about purchases at the moment. End product demand is mediocre and we fear of ethylene price correction in the near term.”