Market sources in the Philippines reported to SSESSMENTS.COM that the leading polyolefins producer in the country announced changes on local PE, PP prices twice in the previous week. The source notified that the producer announced the second price adjustment on last Thursday, June 25 across all grades of PE and PP. For the second price adjustment, the producer opted to increase offers for HDPE grades by PHP3,000/ton ($60/ton), while offers for LLDPE Film C4 hiked by PHP2,000/ton ($40/ton). As for PP Homo Raffia, the latest offers from the producer emerged with an upward adjustment of PHP3,000/ton ($60/ton). All changes compared to the first adjustment on last Tuesday.
Similarly, a Philippines-based converter notified that fresh offers for HDPE Film and LLDPE Film C4 from the leading polyolefins producer increased between PHP3,000-4,000/ton ($30-80/ton) than last Tuesday’s offer levels. Market sources opined to SSESSMENTS.COM that the price increase from the producer was triggered due to the upward movement on import prices.
