May PP, PE prices revealed in Emirates
According to him, the Saudi major’s new PE prices indicate $160-190/ton increases while their homo-PP prices represent $170/ton hikes. The producer offers LLDPE c4 film at $1460/ton, HDPE film at $1520/ton, HDPE b/m at $1540/ton and LDPE film at $1530/ton on CIF Dubai, United Arab Emirates, 90 days basis. The producer’s PP raffia and injection offers stand at $1410/ton with the same terms.
Meanwhile, the trader also received local PP injection prices at $1180-1200/ton on ex-Dubai, cash basis. “Given the tight supply situation both from the Saudi producer and also from the local producer, market players were already anticipating such hikes. Plus, the local producer had faced a PE shutdown and we therefore expect similar price hikes for their new May PE prices. Players are still waiting to hear more prices from other Middle Eastern producers and therefore, it is still early to judge buyers’ response to these new prices. However, we believe that buyers will have to purchase sooner or later given their low stock levels,” he commented.
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