Another Saudi producer announces October PE, PP prices to Egypt
by ChemOrbis Editorial Team - content@chemorbis.com
A trader operating in Egypt reported that another Saudi producer announced their October shipment PE and PP prices to the country. The producer’s new PP and PE prices indicate rollovers from their latest September levels.
According to the trader, the Saudi producer’s new offers stand at $1180/ton for HDPE film and LLDPE c4 film, at $1080/ton for homo-PP raffia and injection and at $1210/ton for LDPE film, all on a CIF Alexandria, 90 days deferred payment basis.
“The higher dollar parity is panicking the market. We are very cautious about our purchases as the market is risky now. The dollar availability is very tight and the increasing parity is hindering the overall market activity. We also sell very limited quantities in the local market in order not to jeopardize our margins. We hear that Middle Eastern suppliers are keeping their offers more or less steady given the hindered import activity,” the source added.
According to the trader, the Saudi producer’s new offers stand at $1180/ton for HDPE film and LLDPE c4 film, at $1080/ton for homo-PP raffia and injection and at $1210/ton for LDPE film, all on a CIF Alexandria, 90 days deferred payment basis.
“The higher dollar parity is panicking the market. We are very cautious about our purchases as the market is risky now. The dollar availability is very tight and the increasing parity is hindering the overall market activity. We also sell very limited quantities in the local market in order not to jeopardize our margins. We hear that Middle Eastern suppliers are keeping their offers more or less steady given the hindered import activity,” the source added.
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