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Egypt’s PP, PE markets start November on firm footing

by ChemOrbis Editorial Team - content@chemorbis.com
  • 04/11/2020 (13:31)
In Egypt, market players reported that gains extended into November, largely as a result of globally firm trend, as well as a tightness in supplies. There were mixed views on demand, with some reporting moderate to weak interest. On the other hand, some buyers were reported to have concluded deals with little to no bargaining amid restricted availability.

A major Saudi producer announced increases ranging between $50/ton to 100/ton for PE grades while PP grades were higher by around $30-40/ton over October. These changes brought the major producer’s offers to $1000-1010/ton for PPH raffia and inj., $1060-1080/ton for PPBC inj., $1110-1140/ton for PPRC inj., $1030-1040/ton for PPH film and PPH fibre, $1170-1190/ton for LDPE film, $980-1000/ton for LLDPE C4 film and $1020-1040/ton for HDPE film and HDPE inj., $1030-1050/ton for HDPE b/m, all on CIF Egypt, 90 days.

Another Saudi producer opted for $70-90/ton increases for LDPE film and LLDPE C4 film offers, citing tighter availability. The producer’s latest offers were at $1130/ton for LDPE film and $1000/ton for LLDPE C4 film, all on CIF Egypt, 90 days.

A similar trend was observed in offers from a different Middle Eastern supplier, with increases of $20-40/ton for PP and $40-70/ton for PE. News offers were at $1020-1040/ton for PPH raffia and inj., $1080-1100/ton for PPBC inj., $1110-1130/ton for PPRC inj., $1100-1120/ton for LDPE film, $1000-1020/ton for LLDPE C4 film and $1020for HDPE film, $1010-1020/ton HDPE inj., and $1020-1030/ton for HDPE b/m, all on CIF Egypt, 90 days.

In addition, another Middle Eastern trader reported concluding deals at largely higher levels from October. The levels were notably higher by $100/ton for LDPE film and by $50/ton for LLDPE C4 film. A mixture of rollovers to $10-20/ton increases was seen in deals for HDPE grades. Accordingly, deals were reported at $1100-1120/ton for LDPE film, $960/ton for LLDPE C4 film and HDPE film, $950/ton for HDPE inj. and $940/ton for HDPE b/m, all on CIF Egypt, 90 days.
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