Thai major stepped back on PP, HDPE offers to Vietnam

A major Thailand producer has opened new offers to Vietnam today for both PP and HDPE with reduction from last week. The maker reportedly cut homo-PP yarn price by $15/ton to $1235/ton while HDPE yarn down $25/ton to $1275/ton, all based on CIF Vietnam, LC AS term.

Supply is still limited given the unstable production condition, however weaker demand is one of the major drivers for the price decision. A source close to the producer informed, “Buyers are placing bids at well below the offered levels. South Korean HDPE yarn is available at very competitive prices and we need to seriously consider the market situation at the moment.”