Egyptian buyer purchases Mid-Eastern PE with decreases, no discount on PP

A plastic end manufacturer operating in Egypt reported concluding PE deals with a Saudi producer at stable to $30/ton lower prices compared to initial December levels for LLDPE and LDPE film at $1180/ton CIF Suez, Egypt, 90 days deferred payment.

Meanwhile, the buyer also purchased some PP from the same producer at their initial December levels which stood at $1080/ton for PP injection with the same terms.

"Sellers are following different pricing policies and they offer discounts according to the purchase amounts. Meanwhile opening the letters of credit has slightly improved; however, players are still struggling with this issue due to the high exchange rates, "commented the source.