Jordanian buyer: Saudi producer lowers Jan PE prices again
According to him, the new levels are $60-70/ton lower than the producer’s latest prices. However, when compared with their initial January levels, the producer’s new offers indicate around $100/ton drops.
The buyer received LDPE, HDPE and LLDPE c4 film from a major Saudi producer at a single level of $1100/ton CIP Amman, 90 days deferred payment basis. Meanwhile, the converter also received HDPE film offers from another Saudi producer with a $40/ton drop from December at $1070/ton CIF Aqaba, 90 days basis.
“The major Saudi producer also offers $10/ton additional discounts for cash payments, but players mostly prefer to purchase on deferred payment basis. Meanwhile, demand is very quiet and supplies are comfortable in the market. Almost 20% of the plants are shut in Jordan given depressed end product demand stemming from borders closures with Syria and Iraq, where we used to export,” he added.
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