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Local PP, PE prices weak, trend in import markets varies in Mid-East, North Africa

  • 02/11/2017 (09:16)
In the Middle East and Africa, November announcements for PP and PE have started to surface recently both in the local and import markets. Local producers were seen applying rollovers to some decreases to their own markets considering slow market conditions heading towards the year end.

A Saudi major issued rollovers for homo PP grades and PPBC inj. while applying slight decreases of SAR38/ton ($10/ton) for LDPE, LLDPE and HDPE grades. Regional sources reported that a different Saudi producer followed suit in the local market.

Distributors in Saudi Arabia remarked, “Demand is stagnant whereas supplies are adequate. We are waiting for the rest of the suppliers to reveal their November offers.”

In Turkey, the domestic producer, Petkim, has also been applying decreases on PP and PE prices on a weekly basis since late October.

So far this week, Egypt’s local PE producers, SIDPEC and ETYHDCO, also followed a stable to softer pricing policy as the market lacks support from demand side.

Although the pricing trend is widely considered weak in the local markets across the Middle East and North Africa, the trend in the regional import markets appears to vary for November.

A Saudi major lowered its PE offers for November to Turkey this week, according to buyers. There were monthly decreases of $10-30/ton.

The same producer raised its homo PP offers by $30-50/ton to Egypt while applying rollovers to $20/ton increases on its PE offers.

The producer’s November announcements to Tunisia, meanwhile, are mostly unchanged for PP and PE from October in line with the previous expectations.