Lebanese buyers receive import June PP, PVC, PE prices
A Lebanese converter reported receiving new June PP and PE prices from a major Saudi Arabian producer with rollovers from May. According to him, the producer kept their prices steady after being able to sell with increases for the past few months.
Another converter reported, “A major Saudi producer issued $10/ton hikes for June homo-PP. We are trying to remain cautious and will only cover our immediate needs amidst weak demand. For July though, we are expecting prices to retreat.”
Players pegged Saudi Arabian PP and PE offers at $1500-1510/ton for PP film, $1500/ton for PP fibre, $1470/ton for PP injection and raffia, $1580/ton for PPRC injection, $1570/ton for HDPE b/m, injection and LDPE film, $1540/ton for LLDPE c4 film, $1580/ton for LLDPE c4 injection and $1550/ton for HDPE film on a CIF Beirut, 90 days deferred payment basis. Meanwhile, offers for Emirati PP film was pegged at a more competitive level at $1460/ton with the same terms.
Meanwhile, for PVC, a trader reported selling US PVC at $890/ton on CIF, 120 days basis. According to him, US PVC is tracking a softening trend. “Most US suppliers resumed their operations following shutdowns at several plants. Now, supplies appear comfortable. In the market, players generally adopt a wait and see stance and they do not want to build up stocks given the softening trend expected in most polymers for over the near term. Traders mostly try to control the state of the market but Ramadan is just around the corner and this is likely to ensure a softer trend. In addition, political tensions in the Middle East continue to hamper export and import business,” he added.
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