As reported to SSESSMENTS.COM, a shocking movement from a Thai producer pushed buyers to the sidelines. Following the improved sentiment supported by the current uptrend in China market, the offers for PP Homo Film, PP Homo Injection, and PP Homo Raffia from a Thai producer increased by THB500/ton ($15/ton) from last week. Similarly, the export offers for PP Homo Film and PP Homo Raffia to Vietnam market also adjusted higher by $40/ton on a weekly comparison. Despite the better response, the allocation is cut as the producer predicts that the price will be higher onwards.
However, the trader stated to SSESSMENTS.COM that the market is under a state of confusion, on Tuesday, one of the Thai PP producers dumped the offers for PP. The offers for PP across all grades from the producer captured at THB26,000-26,500/ton ($794-809/ton) with a minimal volume of purchases at 300 tons. “Such a move is sending a wrong signal to the market and sent customers to the sidelines. We do not know why the producer is selling that low while they can easily sell above $800/ton-level to China market,” the trader commented.
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