Mid-Eastern PP, PE offers follow divergent trends for Nov in Egypt
A Saudi major applied increases of up to $50/ton on its November PP prices, attributing this to the scarce availability at regional producers. The producer’s November PE prices indicate rollovers to $20/ton increases, meanwhile.
Similarly, a Saudi distributor offering on behalf of an Omani producer approached the market with more modest increases of $10/ton to bring their prices to $1210/ton for PP raffia and inj. on CIF, Alexandria, Egypt, 90 days. The source commented, “We’re still waiting to receive feedback from our customers.”
Two distributors offering on behalf of a different Saudi supplier, however, applied rollovers to decreases of up to $30/ton on slack buying interest amidst tight liquidity. One of the distributors based in Dubai confirmed, “Demand is very poor as players shy away from engaging in new purchases considering the poor performance of their end sales.”
Distributors are now offering at $1200-1220/ton for HDPE and LLDPE film, $1200/ton for PP raffia and inj. and at $1250/ton for PPBC inj. CIF, Alexandria, Egypt, 90 days.
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