Egyptian players continue to receive PP, PE offers for April

In Egypt, following a Saudi major’s initial price announcements for April, several market players have received more PP and PE offers from some Mid-Eastern producers for this month with steady to higher levels on the back of the ongoing availability tightness across the region. However, discounts are passing on deals due to weak buying interest.

A Mid-Eastern producer has sold out its April quota at $1280/ton for HDPE film and at $1330/ton for LDPE film all on CIF Egypt, 90 days basis. “Our availability was moderate for this month while our prices are within the market’s range. Despite the struggles in the import purchases, we received a good number of inquires,” commented a producer source.

A distributor offering on behalf of a Omani producer also commented that their customers are giving bids at $1180-1200/ton, down $30-50/ton from their initial offers; however, they are yet to decide whether to give discounts or not due to their tight allocations for April shipments.

The overall ranges for the suppliers’ new offers are standing at $1170-1230/ton for homo PP raffia and inj., at $1250/ton for PPBC inj., at $1320-1350/ton for LDPE film, at $1270-1290/ton for LLDPE c4 film and at $1280/ton for HDPE film, with the same terms.