Mid-Eastern players continue to receive Jan PP and PE offers
In Jordan, the initial offers from a Saudi major represented increases of $30-40/ton from December to be reported at $1210/ton for HDPE film, at $1240-1250/ton for LDPE film and at $1230/ton for LLDPE film and HDPE b/m, all on a CIP Amman, 90 days basis.
A plastic end manufacturer receiving the new offers from the Saudi supplier said that supplies are sufficient and the higher offers were expected given the recovery in oil markets. “However, we are expecting to see lower done deals over the near term,” argued the manufacturer.
In the United Arab Emirates, both local and different Middle Eastern sources announced their new PP and PE offers with increases from the previous month. The January import offers are pegged at $1220-1280/ton for LDPE film, at $1120-1150/ton for HDPE film, at $1200-1220/ton for LLDPE c4 film and at$1020-1060/ton for PP raffia and inj., all on a CIF Dubai, 90 days basis.
“The Saudi major revealed their offers around $20-30/ton higher; but then made reductions owing to the other competitive prices. Supplies are good while demand is still slow, though improved compared to the previous month,” said a trader.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Muted demand in Europe paves way for plenty of PP, PE offers in Turkey
- Import PE uptrend persists in China despite bearish winds mounting in local market
- 3-digit hikes in Oct PVC offers reinforce supply-driven bullishness in Asia
- Crude oil caught between demand woes and production disruption
- Tightness drives European PVC market up, prices near pre-pandemic levels
- Major LDPE markets touch multi-year highs on growing tightness
- A prospect for Q4 through uncharted waters of 2020 amid pandemic
- China's import PP markets maintain uptrend under shadow of oil-driven losses in Dalian futures
- Weaker domestic demand prompts Vietnam to export polymers
- European PP market ceases upward trend in September