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Egyptian trader: Saudi PP, PE producer concedes to discounts

by ChemOrbis Editorial Team -
  • 22/06/2015 (14:57)
A trader operating in Egypt reported achieving $20/ton discounts from a major Saudi Arabian producer at the end of last week. “We concluded deals from the Saudi producer after they conceded to $20/ton discounts for their key accounts. Considering globally slower market activities, we think that July may follow a steady to softer trend. Locally, demand is performing very poorly given widespread cash flow issues. Therefore, distributors’ offers indicate decreases as sellers are trying to generate buying interest by cutting their prices. Currently, we are adopting a wait-and-see stance,” he added.

The trader concluded deals at $1550/ton for HDPE film and LLDPE c4 film, $1560/ton for HDPE b/m, $1570/ton for HDPE injection, $1600/ton for LLDPE c4 injection, $1570/ton for LDPE film, $1520/ton for PP raffia and injection, $1550/ton for PP film and fibre, $1540-1560/ton for PPBC injection, $1730/ton for PPRC pipe (Type 3) and at $1670/ton for PPRC injection on a CIF Alexandria, 90 days deferred payment basis.
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