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Initial May PP, PE offers emerge in Jordan, Algeria

by ChemOrbis Editorial Team -
  • 03/05/2017 (15:28)
Players in Jordan and Algeria have received initial May PP and PE offers from a Saudi major on a stable to softer note from April amidst weakening crude oil markets as well as disappointing demand ahead of Ramadan.

In Jordan, a film manufacturer reported that the major cut its new May PP and PE offers respectively by $20/ton and $50-60/ton from April, bringing their new offers to $1190/ton for PP raffia and inj., to $1270/ton for HDPE film, to $1380/ton for LDPE film and to $1290/ton for LLDPE c4 film, all on CIF Jordan, 90 days deferred payment basis.

“Supply levels are good while demand remains weak with slowing end business and poor export activities. Demand is expected to retreat further during the approaching month of Ramadan,” commented the converter.

Meanwhile, the manufacturer also said that they received more competitive levels from another Middle Eastern producer at $1360/ton for LDPE film, $1280/ton for LLDPE c4 film and $1240/ton for HDPE film with the same terms.

In Algeria, the major’s new offers are indicating rollovers from April. According to a trader’s report, the major’s new prices are reported at $1300-1320/ton for HDPE film, at $1330-1350/ton for LLDPE c4 film, at $1390-1400/ton for LDPE film and at $1260-1280/ton for PP raffia and inj., all on CIF Algeria, 90 days basis.
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