Major S. Asian producer stepped back on PP offers

Market sources reported that a major Southeast Asian producer has down adjusted their PP prices for August delivery by $10/ton to reach $1120/ton for homo-PP cargoes and by $20/ton to reach $1280/ton for PP random copolymer grade, all based on CIF SEA, LC AS term. The maker reportedly maintains offers for LDPE cargoes unchanged from the previous levels.

A distributor offer on behalf of the producer commented, “Trading activities have been slow and we hope with the latest price adjustment, buyers would become more willing to replenish cargoes.”