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Egyptian players continue to receive PP, PE offers for May

by ChemOrbis Editorial Team -
  • 08/05/2017 (16:16)
In Egypt, following a Saudi major’s initial price announcements for May, several players have received more competitive PP and PE offers from other Middle Eastern producers on a stable to softer note given the recovering supply levels and the recent declines in the energy complex.

A trader offering on behalf of an Omani producer said that they have already sold out their PP quota for May at $1200/ton CIF Egypt, 90 days given their competitive levels.

A manufacturer receiving new May offers from two Middle Eastern producers with rollovers to $10/ton decreases from April said that prices are reasonable this month and they are planning to make some fresh purchases; however, he complained about the weak demand on their final products due to the tight liquidity.

A different trader also reported receiving new May offers from a different Saudi producer with rollovers to $30/ton decreases from the previous month. “Allocations are fine and demand has improved although it is still below average due to the unstable market condition,” added the trader.

The overall ranges for the suppliers’ new offers are standing at $1150-1200/ton for homo PP raffia and inj., at $1270/ton for PPBC inj., at $1330-1350/ton for LDPE film, at $1250-1290/ton for LLDPE c4 film and at $1250-1280/ton for HDPE film, with the same terms.
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