Thai maker lifted PE offers to China regardless on exchange rate

Chinese buyers reported receiving fresh PE offers from a major Thailand producer with $10/ton increased from late July despite the deep concern on the continuous weakening Chinese Yuan that makes imports more expensive.

The producer’s latest price list and changes are shown in the following table:

“Buying interest in the local market seems better over the past couple of week. We believed that market has hit the bottom and we are not having inventories pressure, too,” a source close to the producer informed.

Chinese buyers are still puzzled about the near-term market outlook, which resulted in slower respond to new prices than usual. Players are watching out for further movement in local demand before making replenishment.