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Another Saudi producer reveals June PP, PE prices to Egypt

by ChemOrbis Editorial Team - content@chemorbis.com
  • 06/06/2016 (15:31)
In Egypt, players reported that another Saudi Arabian producer issued their June PP and PE prices to the country following initial announcements from major suppliers last week.

A distributor reported that a different Saudi producer approached the market with rollovers for PP and up to three digit decreases for PE on their new June offers. According to him, the producer’s new prices stand at $1080/ton for homo-PP raffia and injection, at $1210/ton for LDPE film, at $1260/ton for LLDPE film and at $1180/ton for HDPE film, all on a CIF Alexandria, 90 days deferred payment basis.

“The producer elected to roll over their PP prices while they lowered their PE prices by $50/ton for LDPE film, $80/ton for LLDPE film and $110/ton for HDPE film when compared to May. We feel that the new announcements coupled with slow demand may exert downwards pressure on locally-held PE markets in the days ahead. Market activities are stagnant given the lull of the Ramadan month. Hence, more sellers are open to negotiations for additional discounts nowadays,” the distributor commented.
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