Emirati players receive initial June PP, PE prices
The distributor stated that the Saudi major implemented decreases of $20-30/ton for PE and $50/ton for PP when compared to their May levels, bringing their new offers to $1240-1260/ton for LDPE film, to $1210-1230/ton for LLDPE film, to $1200-1210/ton for HDPE film and to $1010/ton for homo-PP raffia and injection, all on a CIF Dubai, United Arab Emirates, 90 days deferred payment basis.
In the local market, the distributor received June offers from the local producer at $1070/ton for PP raffia and at $1140/ton for HDPE film, both on an FD Dubai, United Arab Emirates, cash basis. The producer’s new HDPE film price suggests a decrease of $60/ton while their PP raffia offer is unchanged when compared to the latest levels reported in May.
“The new June levels came in line with our initial expectations. Supplies are comfortable while demand is sluggish given the approaching Ramadan as well as the globally weak trend,” the distributor commented.
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