Egyptian players report more May import PP, PE prices
A trader commented on a Middle Eastern producer’s new May PE prices by saying, “This producer’s offers remain well below other regional producers’ offers although they, too, report tight supplies and add that they hold very restricted quotas.” This Middle Eastern producer was absent from the market in April while their new May offers stand $170/ton firmer for HDPE film at $1350/ton and $200/ton firmer for LLDPE c4 film at $1400/ton when compared with their most recent offers in March on a CIF Alexandria, 90 days deferred payment basis.
Meanwhile, another Middle Eastern producer revealed their new May PE and PP prices with $100/ton hikes from April. The producer’s new offers stand at a single level of $1400/ton for HDPE, LDPE and LLDPE c4 film while their PP raffia and injection offers are at $1350/ton on CIF Alexandria, 90 days deferred payment basis.
A trader who received these prices said, “This Middle Eastern producer’s allocations have been very limited during this past year and they are not expected to meet more than 30% of the market’s needs. Meanwhile, distributors’ offers also have also recorded increases following firmer import prices and SIDPEC’s May hikes. Although limited supplies are exerting some upward pressure on the market, buyers still continue to resist higher offer levels.”
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