May PP, PE prices turn bearish in Saudi Arabia

A major local supplier revealed May PP offers with decreases following three consecutive months of increases. Similarly, PE offers emerged with decreases after rollovers passed last month following increases in the previous two months. LDPE prices were excluded, however, as they remained unchanged when compared to March levels.

PP prices were softer by SAR73-109/ton ($19-29/ton) at SAR3435/ton ($915/ton) for PPH raffia and inj., SAR3735/ton for PPH film and fibre., SAR3579/ton ($954/ton) for PPBC, SAR4032/ton ($1075/ton) for PPRC. PE prices were down by SAR75/ton ($20/ton) except for LDPE which remained steady at SAR4125/ton ($1099/ton) for LDPE, SAR3863/ton ($1029/ton) for LLDPE, SAR3975/ton ($1059/ton) for HDPE film, SAR4088/ton ($1089/ton) for HDPE b/m and SAR3975/ton ($1059/ton) for HDPE inj., all on FD Jeddah, cash excluding VAT basis.

According to local sources, trading activity across the market is performing at an average rate.