Thailand’s PP market outlook continues to improve in July

04 July 2014 05:26 Source:ICIS News

SINGAPORE (ICIS)--Thailand’s polypropylene (PP) market is likely to gain vibrancy in the third quarter, following a chaos-ridden first half of the year, according to market players on Friday.

Thailand’s consumer confidence index in June was at an eight-month high of 75.1. The index is tracked by the Centre for Economics and Business Forecasting of the  Thai Chamber of Commerce.

The June index is the first full month to be tracked after the 22 May military coup. The May index at 70.7 was a seven-month high after the coup.

“The index reflects the domestic demand. When it goes up, domestic demand for commodities, including PP, will rise too,” said a Thai-based trader.

“The rice payout has increased purchasing power across different markets. Now, the free screening of the World Cup has stimulated demand for consumer products, including the downstream  plastic ware,” said a separate Thai-based trader.

By Angeline Soh