- Market sources in Malaysia revealed to SSESSMENTS.COM that a Malaysian polyolefins producer has announced a fresh price list for April delivery. According to the sources, the producer initiated a price reduction of MYR800/ton ($185/ton) for PP Homo Raffia as compared to the previous price list.
- In Thailand, a local distributor informed SSESSMENTS.COM that offers for local PP Homo Raffia cargoes from one of the local PP producers dipped by THB500/ton ($15/ton) as compared to last week’s level, available at THB29,500/ton ($900/ton) on cash, FD Thailand basis and excluding 7% VAT. However, the distributor is willing to sell at a cost level, or THB500/ton ($15/ton) lower than the initial offer level. To the export market, offers for PP Homo Raffia from the same producer to Vietnam were adjusted down by $30/ton from last week, captured at $885/ton on LC at sight, CIF Vietnam Main Port basis. Despite the price adjustment, most buyers regarded the offer as high and unworkable. From the distributor’s end, sales remain slow as most buyers are anticipating another round of downward adjustment amid sluggish demand for end-products.
