Thailand PE extends the journey south in China

It is reported that a Thailand producer has announced fresh PE offers to China with additional reduction week-on-week, marking the fourth price cut in a row. Sluggish demand stem from the pro-long and intensifying trade war between China and the USA is to blame.

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

“The HDPE market can no longer fetch four-digits prices. Even at the latest offers, we are not very interested, as we have purchased South Korean cargoes in the previous week at a much lower level,” a Chinese trader said.

Meanwhile, the market sentiment is rather calm on the first trading day of the week following the steep depreciation of the Chinese Yuan against the US dollar. Most buyers prefer to wait for more discounts before proceeding with purchases.