Lebanese players receive September Mid-Eastern PP, PE prices
A household product manufacturer reported receiving new prices from a Middle Eastern producer with decreases. They also received new prices from a major Saudi Arabian producer as well as an Emirati producer with decreases changing between $160-180/ton for PE and with $220/ton drops for homo-PP.
“We find the new offer levels reasonable and we see better end product demand these days. It seems that Middle Eastern producers’ supplies are comfortable,” he added. The buyer received HDPE and LLDPE film at $1230/ton and LDPE film at $1240/ton from one regional supplier on a CIF Beirut, Lebanon, 90 days deferred payment basis. Meanwhile, the Saudi and Emirati offers they received were pegged at $1130-1260/ton for HDPE film, $1210-1270/ton for LLDPE film, $1130-1270/ton for LDPE film, $1330/ton for HDPE injection, $1280/ton for HDPE blow moulding, $1080/ton for PP raffia and injection, $1160-1180/ton for PPBC injection and $1240-1270/ton for PPRC injection on CIF, Beirut, Lebanon, 90 days deferred payment basis.
Another converter, who received September PP film offers from a major Saudi producer with decreases of $100/ton said, “September prices are tracking a downward trend, but the overall market state is not very promising. Hand to mouth basis purchases are still the norm amongst buyers. Overall supplies are comfortable and we also hear more competitive Chinese PP cargoes in the market.” The buyer received Saudi PP film at $1250/ton on CIF, 90 days basis.
A trader said that they received new September PP and PE prices from a major Saudi Arabian producer and commented, “It feels like suppliers are limiting their availability in an attempt to preserve the market level. PE supplies are not that ample while demand is moderate. These days, buyers feel obligated to make some fresh purchases as they have been covering only their urgent needs for a long while.”
The trader received HDPE and LDPE film at $1310/ton, LLDPE c4 film at $1300/ton, PP film at $1200/ton and PP raffia and injection at $1120/ton on a CIF Beirut, Lebanon, 90 days deferred payment basis.
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