A Thai producer adjusted local PP prices in contrast with market expectation, a local distributor told SSESSMENTS.COM. In comparison to a week earlier, local offers for PP cargoes across all grades from the producer were adjusted up by THB500/ton ($15/ton) owing to the upcoming maintenance shutdown at the producer’s PP units. While from the other local producers, the trader has not received new offers yet.
Despite the upward adjustment, the trader expressed an opinion to SSESSMENTS.COM that the offers will be unworkable as customers are still expecting for a lower price. However, the producer insisted on keeping the offers firm as there is no sales pressure for this week. To date, the trader has yet to receive inquiries from customers.
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