Lebanese buyers continue to receive Jan PP, PE offers
A household manufacturer reported that they received the new offers from a Saudi major with hikes of up to $100/ton from December which exceeded their expectations. The converter said that the supplier pointed out their limited supply levels as the reason behind their large increase attempts for January.
According to the manufacturer, the major’s new offers are currently standing at $1220-1270/ton for HDPE film, at $1250-1300/ton for LLDPE c4 film, at $1290-1340/ton for LDPE film and HDPE inj., at $1270-1320/ton for b/m and at $1100-1150/ton for PP raffia and inj., all on CIF Beirut, 90 days basis. Meanwhile, the buyer also reported receiving competitive offers from a distributor offering Qatari origins which were reported at $1170/ton for HDPE and LLDPE film and at $1200/ton for LDPE film, with the same terms.
“We managed to conclude deals for Qatari origins. Among all the suppliers, the Saudi major’s offers are the highest ones. Generally, the market state is slow and this is expected to last until April,” said the converter.
Meanwhile, another plastic end manufacturer said that they received PE offers for Chinese origins at $1250/ton for HDPE film and at $1260/ton for LDPE film CIF, 60days. The buyer stated that these offers are competitive compared with the Middle Eastern offers; however, these are the notional levels as they have no allocations due to the upcoming Chinese New Year holidays.
Regarding the market state, the converter also commented, “Players are not rushing to make fresh purchases and they are pushing for lower levels as they are not obligated to purchase now. However, if demand starts to pick up, players would be forced to purchase at these levels as they have no stocks given that they have been meeting their immediate needs only during the previous period.”
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