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Lebanese buyer receives lower November Saudi prices

by ChemOrbis Editorial Team -
  • 04/11/2014 (15:33)
In Lebanon, a household products manufacturer reported receiving lower November PP, PE and PS prices from a major Saudi Arabian producer. The new prices indicate decreases between $40-90/ton when compared with October levels.

The buyer commented, “These decrease amounts should have been issued two months ago. However, the producer delayed decreasing their prices until they ended up with excessive stocks, which stemmed from buyers’ resistance towards high offer levels during the past months. We prefer to hear the rest of the Middle Eastern producers’ offers before deciding on our purchases. On another note, demand remains thin in Lebanon when considering the ongoing political issues and the impending year end, which adds to the situation as the market traditionally becomes very slow and prices soften.”

The converter received HDPE film at $1600/ton, down $40/ton, HDPE blow moulding at $1610/ton, down $50/ton, HDPE injection at $1610/ton, down by $60/ton, LDPE film at $1610/ton, down $60/ton, LLDPE film at $1610/ton, down by $50/ton, PP raffia and injection at $1580/ton, down by $40/ton, PP film at $1610/ton, down by $40/ton, PP block copolymer injection at $1640/ton and PP random copolymer injection at $1730/ton, down by $60/ton, GPPS is at $1730/ton, down by $70/ton and HIPS at $1800/ton, down by $90/ton, on CIF Beirut, Lebanon, 90 days differed payment basis.
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