Asia Daily PP and PE Overview – 10 January 2019
Asia Daily PP and PE Overview – 10 January 2019
HD Film LL C4 Film PPH Inj PPH Raf
SOUTHEAST ASIA
· Local HDPE film market in Indonesia at multi-month low
· Deals for MEA homo-PP unchanged from December
Polypropylene (PP)
Middle Eastern producers have agreed to conclude deals for import homo-PP yarn to Vietnam at $1070/ton, a level that has been stable for the past four weeks. A number of converters are sourcing additional quantities as pre-Lunar New Year replenishment but refrain from too large purchases for the uncertain post-holiday outlook.
Polyethylene (PE)
The domestic HDPE film market in Indonesia is at fresh low as local suppliers offer an additional discount for serious buyers. The four downward adjustments in four trading days have spur concerns among buyers, who are now questioning if the market is already nearing the bottom.
Meanwhile, sentiment in local Malaysia market is not very bright at the moment and suppliers here are open to negotiation with serious buyers. “This condition might persist for the first half of February. We are trying to deplete some cargoes in the coming days,” a trader said.