Jordanian players receive October Saudi PP, PE prices
The buyer stated, “Overall demand in Jordan is still slow following the Eid-al-Adha holiday. We are now waiting to hear from other Middle Eastern producers and we expect more competitive levels such as rollovers from them. The initial Saudi prices we received are too high to be accepted and we anticipate a downward adjustment from the producer.”
Meanwhile, another converter in Jordan also reported receiving new prices from two different Saudi producers. According to him, he obtained HDPE film at $1280/ton and PP raffia and injection at $1130/ton on a CIF/CIP Aqaba, Jordan, 90 days deferred payment basis.
“The new Saudi prices indicate around $40-80/ton increases for both PP and PE. However, we found these levels too high and we think that the prices might see downward adjustments of up to $30/ton. Overall demand remains weak as players have not fully resumed their operations. Meanwhile, the players who returned to their desks prefer to observe the market instead of taking a position. Regarding supplies, overall availability is comfortable, but buyers’ stock levels appear to be limited since many had been purchasing on a needs only basis prior to the holiday,” he reported.
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