Lebanese buyer: Despite decreases, there is no rush to purchase
by ChemOrbis Editorial Team - content@chemorbis.com
In Lebanon, a household products manufacturer reported receiving new January PP and PE prices from a major Saudi Arabian producer with noticeable three digit decreases. According to the buyer, the producer’s PE decreases change between $190-250/ton and their PP decreases are at $180/ton when compared to their December levels.
The buyer received January LDPE film at $1300/ton and HDPE and LLDPE film offers at $1280/ton on a CIF Beirut, Lebanon, 90 days deferred payment basis. Meanwhile, they also received PP raffia and injection prices at a single level of $1300/ton with the same terms.
“Overall trading activities are very slow in Lebanon while the political unrest still weighs on the country’s economic conditions. We hold sufficient stock levels and we are not planning to make fresh purchases unless we feel the need. However, we are not receving a satisfactory number of orders from our end customers. Over the near term, we see no chance for prices to rebound. Plus, crude oil prices are still declining and this is reinforcing additional decrease expectations,” he added.
The buyer received January LDPE film at $1300/ton and HDPE and LLDPE film offers at $1280/ton on a CIF Beirut, Lebanon, 90 days deferred payment basis. Meanwhile, they also received PP raffia and injection prices at a single level of $1300/ton with the same terms.
“Overall trading activities are very slow in Lebanon while the political unrest still weighs on the country’s economic conditions. We hold sufficient stock levels and we are not planning to make fresh purchases unless we feel the need. However, we are not receving a satisfactory number of orders from our end customers. Over the near term, we see no chance for prices to rebound. Plus, crude oil prices are still declining and this is reinforcing additional decrease expectations,” he added.
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