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Egyptian buyer: A major Saudi producer revises down PP,PE prices

by ChemOrbis Editorial Team -
  • 05/10/2015 (18:02)
In Egypt, a converter reported receiving October prices from a major Saudi Arabian producer with $20/ton decreases from the initial levels that they had announced. The buyer reported concluding deals at the adjusted levels at $1350/ton for LDPE, HDPE and LLDPE film, at $1220/ton for PP raffia and injection and at $1230/ton for PP fibre and film on CIF Alexandria, 90 days deferred payment basis.

The Saudi producer had initially issued $70-120/ton hikes for PE and $60-90/ton hikes for PP at the beginning of October.

The buyer commented, “The producer agreed to offer us $20/ton decreases since the overall market sentiment is still weak following the Eid-al- Adha holiday. Currently, buyers are waiting to hear the rest of the regional producers’ offers and therefore, the state of demand is difficult to judge.”
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