Jordanian, Emirati players receive June PP, PE prices
In Jordan, a converter reported that they received rollovers from a major Saudi Arabian producer at $1550/ton for HDPE film, $1560/ton for LDPE film, $1530/ton for LLDPE film and at $1450/ton for PP raffia and injection on a CPT Amman, Jordan, 90 days deferred payment basis. According to him, the rollover stemmed from sluggish demand. “Plus, the Saudi producer’s allocations seem more comfortable this month. We anticipate that other regional producers will follow the same pricing policy. Meanwhile, discounts seem possible on deal levels this month,” he added.
In the United Arab Emirates, a trader reported receiving June PP and PE prices from different Middle Eastern producers with modest hikes of around $10/ton from May. The trader received LLDPE film at $1400/ton, LDPE film at $1460/ton and HDPE film at $1490-1530/ton while they received PP raffia and injection at $1410/ton on a CIF Dubai, United Arab Emirates, 90 days deferred payment basis.
“Demand is moderate in the market. Apart from the abovementioned offers, we also received new June prices from a major Saudi Arabian producer with increases from May. However, we believe that their deal levels will be on par with their May levels. Supply wise, availability appears better this month as we are not facing any difficulties obtaining cargoes. Considering the state of the market, we already anticipate decreases for July as we do not think that buyers can afford to pay further increases,” he added.
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