A major Saudi producer reduces PP, PE prices to Egypt
by ChemOrbis Editorial Team - content@chemorbis.com
Players operating in Egypt report that a major Saudi Arabian producer has adjusted down their February PP and PE prices. The producer had initially issued $60-80/ton decreases on their February PE prices and $40-50/ton drops on their homo- PP prices. The producer’s February PPBC injection and PPRC injection prices indicated even larger drops on a month over month basis at $230-240/ton and $120/ton, respectively.
This week, a film products converter reported concluding some PP and PE deals with the producer after being able to achieve $20-30/ton discounts. “The producer does not hold sufficient PP block copolymer quotas while we think that additional decreases might be possible in the upcoming weeks,” he added.
Meanwhile, another converter reported obtaining larger discounts for $50-60/ton for PP raffia and fibre from the producer. “The producer revised their offer levels downward, but other Middle Eastern producers’ prices are still more competitive,” he added.
The producer’s new adjusted prices stand at $1110-1150/ton for PP raffia, at $1150/ton for PP injection, at $1150-1170/ton for PP fibre, at $1170/ton for PP film, at $1220/ton for LDPE film and at $1200/ton for LLDPE film and HDPE film on CIF Alexandria/Suez, 90 days deferred payment basis.
This week, a film products converter reported concluding some PP and PE deals with the producer after being able to achieve $20-30/ton discounts. “The producer does not hold sufficient PP block copolymer quotas while we think that additional decreases might be possible in the upcoming weeks,” he added.
Meanwhile, another converter reported obtaining larger discounts for $50-60/ton for PP raffia and fibre from the producer. “The producer revised their offer levels downward, but other Middle Eastern producers’ prices are still more competitive,” he added.
The producer’s new adjusted prices stand at $1110-1150/ton for PP raffia, at $1150/ton for PP injection, at $1150-1170/ton for PP fibre, at $1170/ton for PP film, at $1220/ton for LDPE film and at $1200/ton for LLDPE film and HDPE film on CIF Alexandria/Suez, 90 days deferred payment basis.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Stats: China’s total PP imports spike in May; Vietnam and India’s rising shares shine out
- Tight supply drives HDPE, LLDPE gains in Southeast Asia
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem
- PE buyers’ resistance grows in SEA; duty-free origins more competitive than Mid-East
- Polymer demand cools in Turkey: Is price correction ahead for PP, PE and PVC?
- China’s rising PET trend takes a pause, but longer-term outlook remains firm
