Initial October PE, PP offers surface in UAE
A trader reported that the local Emirati producer rolled over their PP raffia and injection and HDPE film offers for October. The producer is currently offering at $940-950/ton for PP raffia and injection and at $1070-1080/ton for HDPE film, both on an FD Dubai, United Arab Emirates, cash basis.
The trader also reported receiving new October PP and PE offers from a major Saudi Arabian producer. According to the trader, the producer rolled over its PP and PE prices, except for its HDPE film offers which indicate a $50/ton decrease from September. The trader attributed this to the competitive offers provided by the Emirati producer in the import market.
The producer’s new prices are standing at $990-1000/ton for homo PP raffia and injection, $1150-1160/ton for HDPE blow moulding, $1130/ton for HDPE film, $1160-1170/ton for LLDPE c4 film and $1220/ton for LDPE film, all on a CIF Dubai, United Arab Emirates, 90 days deferred payment basis.
"Demand is still disappointing and players are cautiously meeting their immediate needs. The producer is open to further price negotiations given the poor buying interest and their excess supplies,” commented the trader.
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