Import and local PP, PE offers revealed for Dec in UAE
Two distributors reported receiving December offers from a domestic producer with rollovers from November. Accordingly, the domestic producer’s prices were unchanged at $1070/ton for PP raffia and inj., $1180/ton for HDPE film and LLDPE c4 film and at $1270/ton for LDPE film on FD Dubai, cash basis.
As for imports, a distributor noted that a Saudi major’s December prices were mostly unchanged, except for a $10/ton decrease in LDPE film offers. Accordingly, the distributor received offers from the Saudi major at $1180-1190/ton for HDPE film and LLDPE c4 film, $1300-1310/ton for LDPE film and at $1190/ton for PP raffia and inj. on CIF Dubai, 90 days basis.
The source commented, “We received December offers mostly with rollovers. Demand is slow whereas supplies are comfortable. Players are in a waiting stance and they are placing lower bids.”
A second distributor reported that a different Saudi producer kept its December prices unchanged at $1180/ton for HDPE film and $1150/ton for PP raffia and inj. on CIF Dubai, 90 days. The source commented, “Demand is below moderate while supplies are sufficient.”
Meanwhile, a buyer reported receiving LLDPE c4 film offers from a Kuwaiti producer with rollovers at $1180-1190/ton CIF Dubai, 90 days. He added, “Overall market sentiment is weak due to the year-end period and we are waiting for other Middle Eastern suppliers’ offers. However, we plan to make some fresh purchases in December as we believe that implementation of a 5% VAT in Saudi Arabia will pave the way for price hikes.”
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