Correction: Saudi major reveals May PE, PP offers to local market
by ChemOrbis Editorial Team - content@chemorbis.com
Correction in USD equivalence of SAR-based prices.
Local players in Saudi Arabia reported new May offers from a major domestic producer with rollovers to SAR263/ton ($70/ton) decreases for PE and mostly rollovers to decreases of SAR113/ton ($30/ton) for the PP grades.
This is the first time that the producer has reduced their offers to local market since early January 2023. According to local sources, trading activity is recovering. However, it remains below their expectations. “Fears of global economic recession have kept purchases limited,” commented a trader.
The producer’s new offers are at SAR4500/ton ($1200/ton) for LDPE, SAR4163/ton ($1110/ton) for LLDPE, SAR4125/ton ($1099/ton) for HDPE film, SAR4388/ton ($1170/ton) for HDPE b/m, SAR4275/ton ($1139/ton) for HDPE inj., SAR4125/ton ($1099/ton) for PPBC, SAR4538/ton ($1210/ton) for PPRC, SAR4050/ton ($1080/ton) for PPH raffia and inj., SAR4200/ton ($ 1120/ton) for PPH film and fibre., SAR5625/ton ($1500/ton) for GPPS and SAR5813/ton ($1550/ton) for HIPS, all on FD Jeddah, cash basis.
Local players in Saudi Arabia reported new May offers from a major domestic producer with rollovers to SAR263/ton ($70/ton) decreases for PE and mostly rollovers to decreases of SAR113/ton ($30/ton) for the PP grades.
This is the first time that the producer has reduced their offers to local market since early January 2023. According to local sources, trading activity is recovering. However, it remains below their expectations. “Fears of global economic recession have kept purchases limited,” commented a trader.
The producer’s new offers are at SAR4500/ton ($1200/ton) for LDPE, SAR4163/ton ($1110/ton) for LLDPE, SAR4125/ton ($1099/ton) for HDPE film, SAR4388/ton ($1170/ton) for HDPE b/m, SAR4275/ton ($1139/ton) for HDPE inj., SAR4125/ton ($1099/ton) for PPBC, SAR4538/ton ($1210/ton) for PPRC, SAR4050/ton ($1080/ton) for PPH raffia and inj., SAR4200/ton ($ 1120/ton) for PPH film and fibre., SAR5625/ton ($1500/ton) for GPPS and SAR5813/ton ($1550/ton) for HIPS, all on FD Jeddah, cash basis.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Stats: Türkiye’s cumulative polymer imports hit 3-year low in Jan-Sept
- PP, PE markets torn between firmer monomers and poor dynamics in Europe
- Peak season closes with modest PP, PE gains in China, except for LDPE’s strong stand
- India finally announces ADD on S-PVC imports: What’s in store for subject countries?
- Turkish PE players hunt for signs of a market bottom amid pending Nov offers
- Freight rates rise after prolonged slump; is this rebound here to say or just a dead cat bounce?
- India’s PVC price range narrows as low-end Chinese offers fade amid ADD speculation
- Slump deepens in European plastics recycling industry
- SE Asia’s PPH regains premium over China after 3 weeks
- Stats: China rapidly expands its share in SE Asia’s PP markets
