Thailand PE offers continue to drop in China

Chinese players reported receiving new PE offers from a major Thailand producer with further reduction from last week. Latest price list sees $40/ton drop in HDPE cargoes while LLDPE film is still not available.

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

The initial response is not strong and cargoes off-take is rather slack. Customers are placing bids aggressively now that market is under downward pressure and a number of pessimistic traders are forward selling cargoes at much lower price levels.