January PP, PE prices emerge in Jordan and Lebanon
A major Saudi producer’s new PPH raffia, inj. and film offers to Jordan indicated increases of $180-190/ton while PPBC inj. and PPRC inj. offers saw larger gains of $220-290/ton over December. The producer’s HDPE offers were slightly higher by around $20/ton over last month while LDPE film and LLDPE C4 film offers increased by $90/ton and $220/ton respectively.
These changes brought the producer’s latest prices to $1280-1300/ton for PPH raffia and inj., $1330/ton for PPH film, $1350/ton for PPH fibre, $1400-1430/ton for PPBC inj., $1500-1520/ton for PPRC inj., $1270/ton for LLDPE C4 film, $1470/ton for LDPE film and $1150/ton for HDPE film, inj. and b/m grades, CIF Aqapa.
Offers from another Saudi producer also came in at $1250/ton for LLDPE C4 film and $1450/ton for LDPE film, with the same terms.
A converter based in Amman reported that there was no severe shortage of availability while demand was still deemed weak. “Market sentiment has remained calm,” the converter said.
The major Saudi producer’s PPH raffia and inj. offers were similarly higher in Lebanon, increasing by $200/ton over December levels. PPBC inj. and PPRC inj. prices were higher as well, up by around $210-230/ton month-on-month. For PE grades, increase ranged between $50/ton to $80/ton.
Accordingly, the latest offers in Lebanon were reported at $1300-1320/ton for PPH raffia and inj., $1380/ton for PPBC inj., $1480/ton for PPRC inj., $1120/ton for LLDPE C4 film, $1450/ton for LDPE film, $1170/ton for HDPE inj., $1190/ton for HDPE b/m., and $1210/ton for HDPE film, CIF Beirut.
A trader based in Fanar reported tight allocation for PP grades while also reporting that demand remained weak after the year-end holidays. The uncertain political climate as well as volatile economic conditions continued to weigh on the sentiment while rising COVID-19 cases remained a major concern for players.
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