Thailand producer maintains new PE offers to China stable on reduced pressure

It is reported that a major Thailand producer announces fresh PE offers to China at mostly unchanged levels compared to the previous week. Though market response is not very strong, sources are not seeing a possibility that the maker would concede to large discount like the previous week.

“This is because the supplier has depleted a good quantity in the previous price announcement and is currently free from any inventories pressure. Form our side, we are waiting on the sideline too after secured a comfortable allocation,” a buyer informed.

In the meantime, several other sources are gauging the near to medium term financial market, fearing that the Chinese Yuan might depreciate further. “In such light, it might be better to source cargoes at the moment and lock the exchange rate. We are still considering,” another buyer added.     

The following table showed the producer’s latest offers and week-on-week changes.