A major Saudi Arabian reveals August PP, PE to Egypt
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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