March PP, PE offers announced higher in UAE, Jordan
Accordingly, a Saudi major raised its new March PP and PE offers to the UAE by $100-180/ton from February, bringing their new offers to $1300-1320/ton for HDPE film, to $1400/ton for LLDPE and LDPE film and to $1200/ton for PP raffia and inj., all on a CIF Dubai, United Arab Emirates, 90 days deferred payment basis.
Players also reported that the local Emirati producer is currently offering at $1200/ton for PP raffia and injection and at $1240-1280/ton for HDPE film, both on an FD Dubai, United Arab Emirates, cash basis, up $120-170/ton from February.
A trader who received the new offers commented that supplies are very tight, especially for homo PP grades as well as HDPE and LDPE film grades; however, demand is relatively slow. “We hope to see some improvement in demand in line with the approaching summer season,” added the trader.
In Jordan, the Saudi major’s new offers indicate smaller increases up to $70/ton from February which stand at $1240-1260/ton for HDPE film, at $1410-1420/ton for LDPE film, at $1300-1320/ton for LLDPE film and $1190/ton for homo PP and raffia, all on a CIP Amman, 90 days basis.
However, a plastic manufacturer reported receiving more competitive offers of 1290/ton for LDPE from a different Saudi producer. However, the homo PP offers he received from this supplier are standing at the same levels with that of the Saudi major.
“Trading activities have somewhat improved so far. However, we are waiting to see better demand in the upcoming weeks given the approaching Ramadan,” said the converter.
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