Lebanese buyer receives Nov polymer offers from Saudi major

A plastic end manufacturer operating in Lebanon reported receiving November polymer offers from a Saudi major with increases of $10-30/ton for PP and PE from October, except for its new LLDPE c4 film offers which indicate decreases from last month.

The converter reported concluding deals for HDPE film with an increase of $10/ton from October while the buyer’s done deal level for LLDPE c4 film represents a decrease of $25/ton from last month.

According to the converter, the producer’s new offers are now standing at $1160/ton for HDPE film, at $1230/ton for LDPE film and HDPE inj., at $1200/ton for HDPE b/m, at $1155/ton for LLDPE c4 film, at $1250/ton for LLDPE c4 inj., at $1070/ton for PP raffia and inj., at $1010-1130/ton for PPBC inj., at $1210/ton for PPRC inj. and at $1100/ton for PP film and fibre, all on a CIF Beirut, 90 days deferred payment basis.

The producer’s new PS and PET offers, meanwhile, were reported at $1270/ton for GPPS, at $1350/ton for HIPS and at $920/ton for PET bottle with the same terms.

The producer reportedly increased its offers amidst the absence of other Middle Eastern producers in the market. “The Saudi major is the only producer announcing their new prices to the country so far. An Emirati producer will not offer until mid-November while a Qatari supplier also has not been offering for the last 4-5 months. In October, demand was sluggish in the market while we are expecting buying appetite to improve in the upcoming period in line with the approaching Christmas preparations. In addition, we believe that the approaching presidential elections will support the country’s stability, thereby the market state will improve,” added the converter.