A Philippines converter reported to SSESSMENTS.COM that the leading polyolefins producer in the country adjusted LLDPE Film C4 offers steeply. The producer quoted PHP50,000/ton ($988/ton) on cash, FD Philippines basis and including 12% VAT for the grade when the converter submitted an inquiry. Compared to the last offers received by the converter in mid-February, the current price is PHP9,000/ton ($178/ton) lower.
Despite the adjustments, the converter did not place an order yet and preferred to monitor the market first. Besides, the factory has been shut since April 8 for Easter holiday and due to the lockdown. The converter opined to SSESSMENTS.COM that the possibility for PE prices to increase is slim.
