Sales Of Converters In Malaysia Are At Odds With Converters In Other Southeast Asian Countries
- Local PET Bottle offers in Malaysia and Thailand moved in tandem
- End-product sales in Thailand are further weakened by the start of the rainy season
- Malaysian government allows gathering of below 20 people during Eid Al-Fitr, bottled drinks sales affected
PET market players informed SSESSMENTS.COM that sales of converters in Malaysia are at odds with converters in other Southeast Asian countries. However, in terms of prices, local PET Bottle offers in Malaysia and Thailand moved in tandem. Local offers in both countries remain stable on a weekly comparison. In Malaysia, deals were concluded at MYR300/ton ($69/ton) lower than the initial offer level for a big volume purchase whereas buyers in Thailand concluded deals between THB250-500/ton ($7-15/ton) below the initial offers. From the import market, offers for PET Bottle cargoes of China origin to Myanmar stood at $720/ton on LC at sight, CIF Myanmar Main Port basis. Offers for products of the same origin to the Philippines were recorded stable to softer between $5-15/ton. On the other hand, PET Bottle offers from China to Malaysia increased by $5/ton. All changes were compared to last week. Detailed information for Indonesia and Vietnam market is available in WeeklySSESSMENTS of the respective countries.
In general, demand for PET Bottle is not strong as the COVID-19 outbreak is still affecting the end-product sales in most countries in the region. In Thailand, end-product sales are further weakened by the start of the rainy season. However, converters in Malaysia are not facing the same condition. SSESSMENTS.COM was informed that most converters received orders as customers replenish stocks. The players added that the consumption of bottled drinks increases because the Malaysian government allows gathering of below 20 people during Eid Al-Fitr. No supply issues were reported this week.
Demand outlook expressed by market players to SSESSMENTS.COM depends on the condition of each country. Market players in Thailand predict that demand will continue to soften as the rainfall intensifies. However, local PET Bottle prices in the country are believed to remain stable at the current level as long as local producers do not have inventory pressure. In the Philippines, demand is expected to improve when the ECQ (Enhanced Community Quarantine) status of Metro Manila is lifted.
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