Thailand major stepped back on HDPE offers to China

A major Thailand producer reportedly reduced their HDPE film offers to China today by $10/ton compared to earlier this week to reach $1165/ton, CFR China, LC AS term. Market sources added that discouraging demand is the main factor to blame for such reduction.

A trader commented, “We were initially expect a more positive respond from the buyer given limited availability in the market. However, it appears that more Middle Eastern cargoes are due to arrive market end of this month, in which buyers prefer to hold wait and see stance, hoping to see some discounts as supply condition improve. We therefore plan to focus selling cargoes as near term outlook is rather cloudy.”