A Saudi producer cuts November PP, PE prices in their local market
The distributor received HDPE film at SAR5325/ton ($1419/ton), LLDPE film at SAR5550/ton ($1479/ton), LDPE film at SAR5813/ton ($1549/ton), PP injection and raffia at SAR 5775/ton ($1539/ton) and GPPS at SAR6300/ton ($1679/ton) on FD Jeddah, Saudi Arabia, cash basis.
“The Saudi market is very calm and we receive no inquiries at all. Regarding supplies, PP availability is very comfortable but LLDPE film is very limited. These decreases came in line with the market expectations although the amount of decreases issued somewhat surpassed the general expectations. At the moment, players appear to be sidelined from the market as they are waiting to hear the rest of the producers’ offer levels. The rest of the producers are expected to follow this lead and reveal lower prices,” commented the distributor.
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