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A major Saudi Arabian reveals August PP, PE to Egypt

by ChemOrbis Editorial Team -
  • 28/07/2015 (16:57)
A major Saudi Arabian producer issued their new August PP and PE prices to Egypt. The new prices came with decreases when compared with the producer’s July levels. The new levels indicate $30-40/ton drops for PE and $50/ton decreases for PP on a month over month basis.

Prior to this announcement, market expectancies were already centering on decreases, but the drop amounts were anticipated to be larger than those actually announced by the producer.

According to a trader who obtained these new levels, “We were expecting larger decrease amounts given very slow demand. Plus, local market levels have already started to respond to lower expected August announcements. In the distribution market, cargoes are sold even below their actual costs.”

The producer’s new prices stand at $1540/ton for HDPE and LLDPE c4 film, at $1550-1580/ton for LDPE film, at $1560/ton for HDPE injection, at $1530/ton for PP fibre and film and at $1500/ton for PP raffia and injection on CIF Suez, 90 days deferred payment basis.
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