- A trader based in Thailand informed SSESSMENTS.COM that offers for PP Homo Raffia from a local producer remain stable from last week’s level, available at THB35,000-36,000/ton ($1,123-1,157/ton) on cash, FD Thailand basis and excluding 7% VAT. For the next two weeks, the producer has no intention in trimming their offers considering the low availability of materials on the company’s end and backlogs that need to be cleared. In terms of demand, the trader lamented on gaining almost nil deals this week since most customers already have enough stocks on their end.
- On the other side, a Malaysian trader contacted by SSESSMENTS.COM revealed that domestic demand for PP is considered healthy this week. New orders are actively flowing-in as an impact of the recovery of the business sector in the country. Currently, most manufacturers are running production at 80-90% on average; some of them even have planned to run at full capacity in the near term. Speaking of offers, the trader maintains the offers for local PP Homo Raffia cargoes stable from last week at MYR4,400-4,450/ton ($1,025-1,037/ton) on 60 days credit term, FD Malaysia basis and excluding 6% SST. In the days to come, the trader believes that PP prices will remain firm following the state of demand that is expected to be a lot better onward.
