July PP, PE offers continue to slip down in Lebanon, Jordan

Import PP, PE offers in the East Mediterranean region maintained their downward trajectory, which kicked off in early April. The persistently weak market fundamentals and the globally bearish sentiment continue to push prices down further. Meanwhile, players operating in these regions voiced their concerns about making any fresh purchases given the ongoing downtrend.

In Lebanon, Mid-Eastern suppliers revealed their new July offers with $40-50/ton decreases for PE while PP offers were down by $50/ton when compared to the latest June deals. Meanwhile, US PE materials continued to exert pressure on the overall market, surfacing with $30-40/ton decreases when compared to the latest June levels.

The overall range for July is currently standing at $940-970/ton for LDPE, $900-930/ton for LLDPE, $910-940/ton for HDPE film, $920-970/ton for HDPE b/m and inj., $1040-1050/ton for PPBC, $1090-1100/ton for PPRC, $940-950/ton for PPH raffia and inj., $980-1000/ton for PPH film and fibre., on a CIF Lebanon, cash basis.

Meanwhile, players in Jordan reported receiving new July offers with $50/ton decreases for PP and PE when compared to latest June deals.

July offers are currently standing at $1040-1050/ton for LDPE, $960-980/ton for LLDPE, $930-950/ton for HDPE film, $980-1000/ton for HDPE b/m and inj., $960-970/ton for PPH raffia and inj., $990-1000/ton for PPH film and fibre. All offers are on a CIF Jordan, 90 days basis.