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Emirati players obtain local and import PP, PE prices for June

by ChemOrbis Editorial Team - content@chemorbis.com
  • 09/06/2015 (14:49)
In the United Arab Emirates, a distributor reported receiving new June offers both from the local producer and from a major Saudi producer. According to him, new offer levels indicate increases both in the local and import markets while overall market sentiment is very weak. “Players deem the current price levels very high. We see some improvement on the supply side, but it is still not relaxed. The local producer’s availability appears to be tighter than the Saudi producer’s supplies in the import market. Nevertheless, we anticipate a downward trend as of July when considering slow global market activities,” he added.

The distributor, who received $90/ton hikes for the local producer’s cargoes and $30-50/ton increases from the Saudi producer, pegged prices at $1440/ton for PP raffia and injection and at $1570/ton for HDPE film, on both CIF, 90 days and FD Dubai, cash basis.

Meanwhile, another distributor said that they received rollovers on HDPE film offers from the same Saudi producer at $1520/ton on CIF, 90 days basis. According to him, overall demand is slow and therefore, they are not rushing to secure any cargoes.
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