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Initial July PP, PE offers surface in Algeria

by ChemOrbis Editorial Team -
  • 03/07/2017 (16:50)
Algerian players have started to receive new PP and PE offers from Middle Eastern producers with decreases from June in line with their expectations amidst unfavorable crude markets as well as weak demand following the Eid holidays.

Accordingly, a Saudi major lowered their offers by $70-90/ton from their initial June offers to $1230/ton for HDPE film, $1250/ton for LLDPE c4 film., at $1200/ton for HDPE inj. and b/m, at $1300/ton for LDPE film, at $1180/ton for PP raffia and inj., all on CIF Algeria, 90 days basis.

“The major’s new prices are still considered high as the overall market activity was calm during Ramadan and it is yet to revive so far this week. Therefore, we are not in a rush to secure cargoes for now. Meanwhile, we received an LDPE offer from a Qatari source at $1290/ton. They noted that they are doing their best to deliver their cargoes in time despite the political struggles; however, we are still not confident about that as it is still too early to judge the effect of the political issues on the market," said a trader.
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