PP prices at their lowest in Southeast Asian markets

Prices of polypropylene (PP) are at their lowest in Southeast Asian markets in the past week, according to ChemOrbis Price Wizard. Southeast Asian markets including Thailand, Indonesia and Vietnam, hit multi year lows since 2009, when the index for Southeast Asia’s local PP market was first launched.

In Vietnam, PP prices declined during this past week with raffia offers losing VND800,000/ton ($36/ton), according to ChemOrbis, due to sluggish demand as converters order less PP.

In Indonesia, PP demand is very slow since players prefer to be sidelined from the market with prices constantly falling. Since trading activities are usually slow at this time of the year, converters are keeping their stocks at a minimum.

In Thailand, general homo-PP raffia and injection offers lost THB2000-2500/ton ($55-70/ton) during this past week due to approaching year end and weak demand.

PP is thermoplastic polymer used in a wide variety of applications including packaging, plastic parts, medical products and automotive, among others.