Dec PP, PE offers emerge from Middle East in Tunisia, Algeria
A buyer received new LDPE, PP raffia and inj. offers from a Saudi major with rollovers respectively at €1170/ton and €1040/ton, HDPE film offers with €10/ton decreases at €1040-1050/ton and LLDPE film offers with €20/ton decreases at €1020/ton, all on CFR Tunis, 90 days.
However, the producer’s HDPE injection and pipe prices as well as PP block copolymer injection prices were an exception as they applied increases of €40/ton on its new prices for HDPE injection and pipe to bring them to €1100/ton for HDPE injection and to €1220/ton for HDPE pipe 100 natural with the same terms. The producer’s PPBC inj. offers were €10/ton higher at €1140/ton, meanwhile.
In Algeria, the Saudi major approached the market with rollovers to slight decreases of $10/ton. A distributor reported receiving stable offers from a different Saudi producer as well. The source commented, “We received December announcements on a mostly stable note. The market is pressured by harsh economic conditions. Given the fall in crude oil prices, the country is struggling with budget deficit and high inflation rates. Therefore, players continue to limit their purchases to the bare minimum needs.”
Accordingly, the Saudi major’s PP prices are reported at $1260/ton for PP raffia and inj. while PE offers stand at $1250/ton for HDPE film, $1280/ton for LLDPE c4 film and $1340-1350/ton for LDPE film, all CIF Algeria, 90 days basis.
PP offers of the other Saudi producer stand at $1250/ton for PP raffia and inj. while its HDPE film offers are reported at $1240/ton with the same terms.
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