Thailand PE extended softening trend in China

Chinese players reported receiving fresh weekly offers for PE from a major Thailand producer with up to $40/ton reduction. The latest price cuts continue to highlight the weak demand condition in Asia’s largest buyers.

The following table showed the producer’s latest offers and week-on-week changes.

In the meantime, sources close to the producer claimed to be free from sales pressure for HDPE after concluding a good quantity of these parcels at large discount last week. “However, LDPE market is extremely weak and we are very concern about the near-term outlook. Local supply for LDPE is rather bloated and demand might take a while to come back,” a source said.