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The Asian polyolefins market starts the new week at mostly stable trend with very limited number of new offers. A major Thailand producer rollover their PP and HDPE offers to Indonesia though most buyers are still cautious over making additional purchases. A buyer in the country informed, “Major local maker has also implemented minor increased on their new prices; however most buyers are still wait and see. Trading activities on the first trading day of the week are rather quiet, yet we expect better demand in the near term.” 

Meanwhile, Vietnam market is discussing how the adjustment in import duties for homo-PP to the country impact the near term outlook with most pointing to a possible kneejerk respond in purchasing activities. A market source here said, “Most sellers are now holding on to their cargoes with hope that buyers would start searching for material soon. We have yet to receive any new offers as of today and we expect a more of stable to firm trend in the near term.” 

Import PP and PE offers to China market see little changes from last week though buying interest is rather sluggish. This is blamed to the fact that many buyers are absence from the market for the G20 Summit shutdown and also the psychological impact of continuous falling futures trading. One of the trader feel more bullish in the near term said, “We think buying interest would improve by second half of the week as buyers return to the market. Hence, we are not in rush to cut our offers though sales have been disappointed.” 

Market is highlighted by a general calm sentiment today. There are many uncertainties to be named, yet players within the region are very optimistic about the near term outlook.