Thailand PE offered lower in China, demand seems picks up

It is reported that a major Thailand producer has announced weekly PE offers to China with $15/ton reduction for LLDPE film cargoes, bringing the latest price to $1235/ton CFR China, LC AS term. The producer reportedly sold out all available quantity with a minor discount of $5/ton on the cargoes. There are no offers for other grades this week due to lack of availability.

Buyers find the adjusted price to be competitive, as these cargoes are duties free. “All quantities are sold. Buyers have accepted that market is nearing the bottom, which encourages fresh replenishment every time suppliers agree to discount. This help to digest the supply, though in a relatively slow pace,” a trader said.