Further reduction on Thailand PE offers to China

Chinese buyers reportedly receiving fresh PE offers from a major Thailand producer with another $20-30/ton reduction from last week as sentiment here continues to wean.

The producer’s price list is shown in the following table:

There are a lot of confusions in the market as traders are forward selling cargoes at well below producer’s price list and scared buyers away. “Our customers are rather reluctant. We have not made any major price decision, yet it does seem like we need to offer some adjustments to attract deals,” a source close to the producer said. 

In the distribution market, sources claimed to receive offers for Taiwanese HDPE film at $1100/ton CFR China from traders, that creating a benchmark in negotiation with other sellers.