Jordanian buyers: A Saudi producer issued discounts on deals
Another converter in the country also confirmed receiving October HDPE film offers from the Saudi producer with discounts from initial levels at $1260/ton on CIP Amman, Jordan, 90 days basis. “Overall demand remains below the average rates and players are expecting considerable discounts when concluding deals. At the moment, we remain cautious about purchases,” he further added.
Players also reported new October LLDPE film offers from the Middle East. Previously, players had reported a major Saudi producer’s LLDPE film offers at $1320-1330/ton on CIF, 90 days basis. However, a different Saudi producer’s LLDPE film prices stand at more competitive levels of $1150/ton with the same terms.
A buyer who obtained these competitive prices commented, “The large gap between the two Saudi producers’ prices confuses us and makes us more reluctant to purchase. Plus, we are not in a rush to purchase given our comfortable stocks. However, there are some expectations regarding firmer oil prices in 2016 and therefore, we anticipate a stable to firm trend over the near term.”
According to ChemOrbis Plastic News, Qatar’s oil minister and the Organization of the Petroleum Exporting Countries’ (OPEC) president Mohammed bin Saleh al-Sada has reported that they expect a recovery in crude oil prices in 2016 amidst higher demand and stronger global economic growth.
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