Emirati players: Import and local April prices surface
According to reports given to ChemOrbis, a local Emirati producer issued $80/ton increases on their PE prices while they lifted up their PP prices by $90/ton for April. Looking at the new prices, the producer offers HDPE film at $1160/ton while they offer PP raffia and injection at $990-1010/ton on FD Dubai, United Arab Emirates, cash basis.
“Although the price hikes were expected, the local producer’s increase amounts exceeded our expectations. Usually they are more competitive than the import market levels but this month, the gap between the local producer’s prices and the import market levels has narrowed to below $50/ton. We think that this change of pricing policy might stem from the local producer’s limited quotas,” commented a player.
Meanwhile, a major Saudi Arabian producer also issued increases on their April prices. The producer lifted up their PE prices by $70-80/ton and PP prices by $100-110/ton when compared to March. Now, they offer HDPE film at $1200-1210/ton, LDPE film at $1260/ton, LLDPE film at $1230/ton and PP raffia and injection at $1030/ton on CIF Dubai, United Arab Emirates, 90 days deferred payment basis.
According to a trader, overall demand has been performing better in the market since the high season of Ramadan approaches and the rather tight supplies, especially for PP grades, continue to support sellers for further hikes.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem
- PE buyers’ resistance grows in SEA; duty-free origins more competitive than Mid-East
- Polymer demand cools in Turkey: Is price correction ahead for PP, PE and PVC?
- China’s rising PET trend takes a pause, but longer-term outlook remains firm
- Uptrend in China’s import PP market continues but cautious mood returns
- Hikes in Asia July PVC offers baffle some buyers, further rally under discussion
- Optimism is rising on resurgent demand in European polymer markets