- A packaging converter based in Malaysia informed SSESSMENTS.COM that June delivery offers from a local polyolefins producer have emerged in the market with a notable upward adjustment. According to the converter, the latest offers for PP Homo Raffia increased by MYR180/ton ($41/ton) on the monthly comparison. The converter has not decided to purchase yet since the company is still on an as-needed basis procurement. Besides, the current prices are deemed too high and the converter is in doubt that the uptrend will sustain until July. Speaking of the demand, sales for their finished products are still going good as of recent.
- Meanwhile, a Thai trader reported to SSESSMENTS.COM that local producers have attempted to raise their offers for PP Homo Raffia by THB1,000/ton ($31/ton) as compared to a week earlier on the back of supply shortage from the producer’s end. To date, some deals were concluded between THB28,000-28,500/ton ($877-893/ton) on cash, FD Thailand basis and excluding 7% VAT. At the moment, no improvement is observed in demand over the week, the trader informed. For the outlook, the trader opined that PP prices will likely to remain stable since the current level is already high enough.
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