A major Saudi producer reveals June PP, PE prices to Egypt
The producer’s June PE prices indicate increases of $30/ton while their homo-PP prices represent $40/ton hikes. Meanwhile, their PP block copolymer offers are $60-70/ton firmer while their PPRC injection and PPRC Type 3 prices are $100/ton above May.
The Saudi producer’s initial June prices currently stand at $1570/ton for HDPE film, $1580/ton for HDPE b/m, $1590/ton for HDPE inj., $1570/ton for LLDPE c4 film, $1620/ton for LLDPE c4 inj. and at $1590/ton for LDPE film on CIF Suez, 90 days deferred payment basis. Meanwhile, their PP prices are at $1540/ton for raffia and injection, $1570/ton for film and fibre, $1560-1580/ton for PPBC injection, $1750/ton for PPRC Type 3 and at $1690/ton for PPRC injection with the same terms.
The trader who received these new June offers commented, “The increase amounts came in line with the market expectations at less than $50/ton for most products. However, the market’s response to these hikes is not clear, yet. The Saudi producer, meanwhile, informed us that their availability is still tight for June. Therefore, we think that they are likely to remain firm on their new prices.” According to him, demand might start reviving in the upcoming two weeks owing to the impending Ramadan. “However, once Ramadan is here, we anticipate a slow down in buying interest,” he added.
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