Local and import offers surface for Oct in UAE’s PP, PE markets
Inside the UAE, the local producer, Borouge, announced new offers with rollovers both for PE and PP from their latest September offers. Their offers are standing at $1180/ton for LLDPE film, $1100/ton for HDPE film and $1020/ton for raffia and inj., all on FD Dubai, cash basis.
In the import market, a Saudi major, meanwhile, applied $20-30/ton increases on their October PP and PE offers to the UAE. Two distributors reported receiving October offers from the Saudi major at $1300/ton for LDPE film, at $1180/ton for LLDPE c4 film, at $1190-1200/ton for HDPE film, at $1220/ton for PP film, at $1270/ton for PPBC inj. and at $1190-1210/ton for PP raffia and inj., all on CIF Dubai, 90 days basis.
Players are taking a waiting stance to see other Middle Eastern producers’ offers so that they can start negotiating.
“Demand is there, but it remains below average amidst thin buying appetite as players are only securing their needs. Besides, supplies are sufficient in the market,” said a trader.
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