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A Mid-Eastern producer sells out January PE in Egypt

by ChemOrbis Editorial Team -
  • 21/01/2015 (15:58)
A trader offering on behalf of a Middle Eastern producer reported that they sold out their January cargoes with $10/ton discounts from their initial offers for the month at $1340/ton on CIF Alexandria, 90 days deferred payment basis for both HDPE and LLDPE c4 film.

“However, our deals have not been finalized yet as we are yet to deliver the ordered cargoes to our customers. At the moment, pointing to the other lower options in the import market, our customers are asking for additional decreases from $1340/ton. To be honest, we are mulling over cutting our prices again in order to avoid any order cancellation,” commented a source.

Looking at overall import ranges in Egypt, HDPE film prices stand at $1190-1290/ton and LLDPE c4 film prices stand at $1160-1280/ton on CIF, 90 days basis when excluding the producer’s prices at $1340/ton. The producer’s offers carry around a $60-180/ton premium over the prices given from other Middle Eastern sources following their significant downward adjustments.
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