Mid-Eastern PP, PE offers emerge stable to softer for Dec in Egypt
A Saudi major applied rollovers on its new prices for December in line with the expectations. A source reported receiving PP, PE offers from the Saudi major at $1180-1200/ton for PP raffia and inj., $1230/ton for PP film and fibre, $1270/ton for PPBC inj., $1360/ton for PPRC type 3 and $1300/ton for PPRC inj.; $1200-1220/ton for HDPE film, $1230/ton for HDPE b/m, $1250/ton for HDPE inj. and LLDPE c4 film and at $1280/ton for LDPE, all on CIF, Suez, 90 days deferred payment basis.
Nevertheless, the source argues that December transactions might be concluded lower as the month wears on, pointing to stumbling demand. “We are currently waiting for other Middle Eastern suppliers to reveal their offers on a stable note as well,” the source said.
Similarly, a distributor in Egypt reported receiving new PP, PE offers from an Emirati producer with rollovers from November. Accordingly, the producer’s December PE offers stand at $1180/ton for HDPE film, $1270/ton for LDPE film and $1260/ton for LLDPE c4 film on CIF, Alexandria, Egypt, 90 days while PP offers are reported at $1200/ton for PP raffia and inj. and $1360-1370/ton for PPRC pipe type 3 with the same terms.
The seller noted, “Our suppliers allocation is restricted this month while demand in the local market remains slow. Players are limiting their purchases as they are struggling with tight liquidity and slow end-sales.”
A Saudi distributor offering on behalf of an Omani supplier, however, applied slight decreases of $10/ton for PP on slow year-end demand. The distributor is yet to receive feedback from customers.
The distributor offers PP raffia and inj. at $1200/ton on CIF, Alexandria, Egypt, 90 days basis.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Premium of HDPE over LLDPE hits 16-month high in Turkey
- Post-holiday hikes carry China homo-PP market to 1-year high
- Asia PVC markets see longest rising streak ever on extreme tightness
- Africa polymers: October offers higher amid reduced availability
- Stable to softer PE trend prevails in Europe amid soft demand, poor netbacks
- Turkey’s PP and PE markets move up, but riddled with uncertainties
- India, SEA PVC markets unlikely to take respite from bullish run for November
- Southeast Asia PET markets move sideways during China’s absence
- Egypt’s import PE market up on tight supply, domestic offers follow suit
- Will European PS, ABS track divergent paths for another month?