Malaysian producer announced September delivery PP, PE offers to local market

Just before market going off for the long weekend holiday for the National Day, a major domestic producer announced fresh PP and PE offers for September delivery. To surprise, the make slashed HDPE prices while there are no LLDPE film cargoes available due to plant shutdown. 

The full price list and month-on-month changes are shown in the following table:

“We can’t explain the reduction in HDPE film prices. We were expecting some increases considering the supply condition and the exchange rate,” a distributor said. 

The Malaysian Ringgit has depreciated 1.2% against the US dollar compared to a month ago when the producer announced offers for August. “We are still having some old cargoes on-hand and now facing double loses,” the source continues.

Players are waiting for another local maker to announce new prices, hoping to obtain some LLDPE film pallets.