Import PE, PP offers for June start to be announced to Egypt
Accordingly, a Saudi major’s new PP and PE prices were reported unchanged at $1280-1300/ton for homo PP raffia and inj., $1310-1330/ton for film, $1330-1350/ton for PP fibre and HDPE film, at $1400-1420/ton for LLDPE c4 film, at $1430-1450/ton for LDPE film, at $1360-1380/ton for HDPE b/m, at $1380-1400/ton for HDPE inj. all on CIF Egypt, 90 days deferred payment basis.
Meanwhile, the Saudi major’s new June prices for LLDPE c4 inj. are reported at $1480/ton while its new prices for PPBC injection and PPRC pipe type 3 indicate decreases of $50/ton from its latest levels to be respectively reported at $1300-1320/ton for PPBC inj. and at $1430-1450/ton for PPRC pipe (type 3). Its PPRC injection prices, meanwhile, displayed a $130/ton decrease on the month to be reported at 1330-1350$/ton with the same terms.
A buyer commented, "We were expecting the producer to issue decreases on their PE and PPH grades instead of renewing them with rollovers. However, they decreased prices only for their PPRC and PPBC. We believe that large discounts of up to $100/ton might be achievable on done deal levels because other producers are very likely to offer at more competitive levels while the Saudi major’s offers are very high and they do not reflect the real market levels.”
Meanwhile, a producer from United Arab Emirates also reported its new June offers to Egypt with rollovers for PP grades and with decreases of $10/ton for LLDPE and $70/ton for LDPE in line with the expectations.
Accordingly, the producers’ June offers for PP grades stand at $1160/ton for PP raffia and inj. and at $1190-1220/ton for PPBC inj. on CIF Egypt, 90 days basis while its new offers for PE grades are reported at $1180/ton for HDPE film, at $1240/ton for LDPE film and at $1260/ton for LLDPE c4 film, all with the same terms.
The traders reported that the market is currently quiet as players are monitoring the market while they are waiting for more June offers to be announced.
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