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Lebanese players report new July prices from the Middle East

by ChemOrbis Editorial Team - content@chemorbis.com
  • 07/07/2015 (15:15)
Lebanese players reported receiving new offer levels from Middle Eastern producers for PP, PE and PS while a trader also reported new levels for US PVC.

A converter commented that they received $40/ton declines for PP, $110/ton decreases for GPPS and $90/ton cuts for HIPS. According to him, PET supplies are very tight and suppliers only provide off-grade materials. “We are trying to negotiate down these levels before we decide to make any purchases. Players in general are acting cautiously as they are anticipating further declines in the days ahead. We continue to meet our urgent needs and we mainly prefer the local market as it is more stable than the import market. Demand is moderate and traders are open to negotiations for up to $10/ton discounts, but buyers remain cautious in case there might be fresh decreases in the days ahead.”

A trader who managed to obtain $5/ton discount on their US PVC k67-68 purchase noted, “Players, anticipating a softer trend in the days ahead, are pushing for lower levels. Plus, PVC demand is quite weak given the Ramadan month. Nevertheless, buying interest has started to show some signs of a slight improvement. Yet, the unstable political situation continues to weigh down on the market. Prices are, therefore, following a slightly softer track.”

A different converter operating in the country said that they have not made any purchases for this month. “We are expecting to be able to achieve lower done deal levels before making purchases,” he added.

A household products manufacturer reported receiving new July offers from two different Middle Eastern producers with decreases ranging between $10-60/ton and $40-50/ton from June. “The offers we received from a major Saudi producer are the initial list prices and we believe that they are subject to negotiation. We only received PE prices from the producer with $40-50/ton drops but we are yet to receive PP prices from the same supplier. We heard that they cut their July PP prices as well, but their new PP prices are not clear yet. Regarding demand, buyers appear to be starting to build stocks as they do not want to enter the Ramadan holiday without inventory. Regarding availability, players make no complaints at all,” he added.

Looking at the overall July prices reported so far, Middle Eastern PP film offers stand at $1390-1470/ton, HDPE film at $1470-1500/ton, LLDPE film at $1460-1500/ton, LDPE film at $1470-1520/ton and GPPS injection at $1390/ton on a CIF Beirut, Lebanon, 90 days deferred payment basis. Meanwhile, US PVC offers were pegged at $865-870/ton on CIF Beirut, 120 days deferred payment basis.
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