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.
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