Southeast Asian major announced PP and LDPE prices to regional buyers

A major Southeast Asian producer has announced November shipment offers for both PP and LDPE to regional buyers at higher levels compared to last month. The maker lifted PP priced by $30/ton to all markets, reaching $1100/ton for homo-PP, $1200/ton for PP block copolymer and $1260/ton for PP random copolymer, CIF SEA, LC AS term.

Meanwhile, the extent of price increment on LDPE cargoes is varied across markets with $50/ton hike recorded in Vietnam while it is $30/ton in Malaysia. The latest prices stand at $1310/ton for LDPE film, $1350/ton for LDPE injection and $1380/ton for LDPE lamination, all based on CIF, LC AS term.

A market source commented, “We think the LDPE prices are too high though we aware of the current situation in the near by China market. Other international suppliers have also implemented similar hike on their cargoes. We bought some cargoes in domestic market last week, hence we might skip import cargoes this round.”