Egyptian players report more June import PE prices
A Middle Eastern producer lifted their prices by $20/ton from May to $1540/ton for both HDPE and LLDPE film on a CIF Egypt, 90 days deferred payment basis.
A trader, who sold these cargoes on behalf of the producer, commented, “The producer’s allocations are still limited for June, but we do not think that supply issues will be felt severely given weak demand, which can offset the availability problems. In line with the start of Ramadan, we expect buying interest to retreat further. Meanwhile, we received offers from another Middle Eastern producer, but we found their offer levels to be too high. We are trying to negotiate down their levels before deciding whether or not we want to purchase.”
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