Initial import PP, PE offers from Mid-East to Jordan, Lebanon for Sept
In Jordan, a Saudi major lifted its PP offers by $40/ton on a monthly basis to $1170/ton for PP injection and raffia, according to a film manufacturer. However, the buyer received LDPE and HDPE film offers with a $10/ton discount from August respectively at $1270/ton and $1170/ton. The producer’s LLDPE offer, meanwhile, was stable on the month at $1170/ton, all on CIF Amman, 90 days basis.
“The market is calm amidst the approaching holidays. Players will wait for the rest of the regional offers before engaging in fresh purchases,” said the buyer. Meanwhile, he thinks that discounts are expected on deals due to discouraging demand.
In Lebanon, a household manufacturer received PE offers from a Qatari source with $25/ton increases over August. The new offers were reported at $1280/ton for LDPE, $1170/ton for HDPE film and $1210/ton for LLDPE film, all CIF Beirut, 90 days basis.
The buyer was surprised by the increase they received for September as they were expecting to see a stable to soft trend for another month due to thin demand. “Higher costs and the firmer trend in China must have supported the sellers’ firm stance,” he commented. He is expecting to see more offers for September from the Middle East.
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