A Thai trader reported to SSESSMENTS.COM that the local PE offers in Thailand were adjusted further to catch up with import. Compared to a week earlier, the offers for HDPE Film and LLDPE Film C4 cargoes from a Thai PE producer were adjusted higher by THB500/ton ($16/ton). While for LDPE Film, the offers were kept stable compared to the same period. Despite the firm offers, the trader stated that there is still room for negotiation. At the same time, market talks have it that import Middle Eastern LDPE Film cargoes are available at $860-870/ton-level. However, the trader opined that buyers will most likely unwilling to take import cargoes citing that the offers will drop at any moment as well as considering the demand condition.
As informed to SSESSMENTS.COM, domestic demand in Thailand is still sluggish as buyers are keeping the procurement on an as-needed basis. Moreover, the government has extended the state of emergency until the end of July. As such, the demand is predicted to remain sluggish in the near term. The trader also revealed that the company is very cautious in making procurements and avoids buying import cargoes to minimize the risk.
