A Southeast Asian producer’s initial March offers for PP and PE were raised this week. As per Chemorbis, producers raised PP offers by ten dollars for homo-PP and by US$20-30/ton for copolymer PP, bringing their new offers to US$1430/ton for homo-PP injection and raffia, US$1520-1530/ton for PP block copolymer injection and US$1520-1540/ton for PP random copolymer injection, all on a CIF SEA, cash basis. Higher propylene feedstock costs as well as their unsatisfactory margins are responsible for the price increases.
In the PE market, the producer announced a US$20/ton increase on their offers for LDPE coating while rolling over their offers for LDPE film and injection, with their March offers standing at US$1650/ton for LDPE film, US$1680/ton for LDPE injection and US$1670/ton for LDPE coating, all on a CIF SEA, cash basis. The producer stated LDPE demand is not doing very well at the present, commenting that they nevertheless elected to lift their offers for LDPE coating as supply for this product is quite limited.