Initial PP, PE, PS offers for May surface in Saudi Arabia

According to players, a Saudi major announced its May PS, PP and PE prices to the local market.

According to a trader, the producer maintained its PP and PE offers at April levels; except for HDPE blow moulding and PPBC inj. offers which indicated decreases of SAR150/ton ($40/ton) and SAR37/ton ($10/ton) respectively from the previous month.

However, the producer issued a larger decrease of SAR375/ton ($100/ton) on its new PS offers in line with the globally softening PS markets and upstream costs.

The producer’s new May PE offers are currently standing at SAR4538/ton ($1210/ton) for HDPE film and inj., at SAR4425/ton ($1180/ton) for HDPE b/m, at SAR4538/ton ($1210/ton) for HDPE inj., at SAR4950/ton ($1320/ton) for LDPE film and at SAR4650/ton ($1240/ton) for LLDPE c4 film, all on an FD Jeddah, Saudi Arabia, cash basis.

Also, the producer’s new PP offers are reported at SAR4200/ton ($1120/ton) for PP raffia and inj., and at SAR4838/ton ($1290/ton) for PPBC inj., with the same terms.

Meanwhile, new PS are currently standing at SAR5813/ton ($1550/ton) for HIPS inj., at SAR5438/ton ($1450/ton) for GPPS inj., with the same terms.

“Demand is very slow and inquires are limited", said the trader.