Import, local PP and PE prices extend gains into 2nd month in UAE

In the United Arab Emirates, PP and PE prices maintained their firming trajectory for October, after having rebounded from their lowest point since 2020 during September. Mid-Eastern suppliers continue to find support from the globally firming sentiment and stronger costs.

Import October prices are currently standing at $1100-1150/ton for LDPE, $1020-1050/ton for LLDPE, $990-1020/ton for HDPE film, $1020-1070/ton for HDPE b/m, $1020-1050/ton for HDPE inj., $1060-1100/ton for PPBC, $1020-1070/ton for PPH raffia and inj., $1060-1090/ton for PPH film and fibre., all on CIF Dubai, 90 days basis.

In the local market, players reported PP offers from the country’s producer, Borouge, with $30 increases from their initial September levels at $1170-1180/ton for PPBC, $1130-1150/ton for PPH raffia and inj., on a FD Dubai, cash basis.

“Discounts were achievable during September and sellers retreated from their initial offers. Hence, we expect October deals to be concluded with discounts and the demand state did not witness major changes,” commented a local source.