Major Saudi producer issues September PP, PE prices to Egypt
The producer’s new offers indicate $300/ton drops for PP raffia, injection, film and fibre while their HDPE and LLDPE film offers indicate $190/ton cuts and their LDPE film prices indicate $180/ton drops. Meanwhile, the producer offers HDPE injection with $180-190/ton decreases from early August levels while the decrease amount is $110-120/ton when compared with the late August levels for this product.
A converter who obtained these new levels from the producer said, “The producer issued significant cuts when compared with August and this was no surprise at all to the market. Overall demand is very weak and local market prices are also coming down in line with the retreating import market.”
A different converter said, “The producer issued large decreases in order to maintain their market share. Now, we think that their new prices have come to reasonable levels. However, we still think that lower levels can be achieved through negotiations. At the moment, we are planning to wait until we hear other producers’ prices before finalizing our purchases. Our plant is running at half capacity and we see slow demand for our final products.”
According to players, the producer’s HDPE and LLDPE film prices stand at $1350/ton, LDPE film at $1370-1400/ton, HDPE injection at $1370-1380/ton, HDPE blow moulding at $1360/ton, LLDPE injection at $1400/ton, PP raffia and injection at $1200/ton, PP film and fibre at $1230/ton, PPRC injection at $1350/ton and PPRC (Type3) at $1410/ton, all on a CIF Suez, 90 days deferred payment basis.
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