18 July 2012 12:13 [Source: ICIS news]
SINGAPORE (ICIS)--Thailand’s producers have raised their price offers for polyethylene (PE) and polypropylene (PP) in the domestic market by up to 1.2% this week to match rising feedstock olefin prices in southeast Asia, local distributors said on Wednesday.
Film grade high density PE (HDPE) and linear low density PE (LLDPE) were offered at Thai baht (Bt) 44.00–44.50/kg ($1.38–$1.40) DEL (delivered) and Bt43.50–44.50/kg DEL, Bt0.50/kg higher than last week, they said.
Producers’ offers for yarn grade PP were raised by Bt0.5/kg to Bt47/kg DEL, they added.
Transactions were limited at the higher producer offers because most local end-users and stockists were holding ample inventories, the distributors said.
Most of the major PE and PP end-users in Thailand were holding two to three weeks of stocks and were likely to return to the market at the end of July or early August, they added.
Spot ethylene prices rose to $1,050–1,090/tonne CFR (cost and freight) southeast Asia in the week ended 13 July, $30–50/tonne higher than the previous week, according to ICIS.
Spot propylene prices rose to $1,230–1,270/tonne CFR southeast Asia in the week ended 13 July, $30-40/tonne higher than the previous week, according to ICIS.
($1 = Bt31.67)
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