Thailand producer continues to lift import PE offers to China

It is reported that a major Thailand producer has opened fresh PE offers to China market with additional increases from the previous price announcement. Tighter supply coupled with the recovering upstream costs is regarded as the main support for the continued hiking offers.

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

Apparently, there have not been any immediate deals observed at the latest price levels given the softer sentiment in the domestic spot ground. Chinese players have made comfortable replenishment over the past several weeks, from which most cargoes are expected to arrive by late May to June.

“The war-of-words between China and the USA makes trade deals between the two countries uncertain. Buyers prefer to withdraw to the sideline to assess the situation before proceeding with new purchases. In the meantime, limited availability might keep the market on the stable to firmer track in the near term,” a market source said.