Mid-Eastern producers announce Dec PP, PE offers to Jordan, Lebanon
by ChemOrbis Editorial Team - content@chemorbis.com
Players operating in Lebanon and Jordan started receiving new PP and PE offers for December from the Middle Eastern producers. Compared to the previous month, the latest offers suggested hefty losses that were mostly driven by softer upstream values and the overall bearish sentiment.
In Jordan, a major Saudi producer cut its new offers by $20/ton for PP and by $70-130/ton for PE, bringing its latest prices to $1060/ton for LLDPE c4 film, $1160/ton for HDPE film, $1070/ton for LDPE film, and $1230/ton for PP raffia and inj., all on CIP Amman, 90 days basis.
In Lebanon, the Saudi major’s new PP offers were lowered by $40-70/ton from November at $1290/ton for PP fibre, $1280/ton for PP film, and $1260/ton for PP raffia and inj. while the producer’s PE offers stood at $1130/ton for LDPE film, $1085/ton for LLDPE c4 film, and $1185/ton for HDPE film and inj., all on CIF Beirut, 90 days.
Meanwhile, a Lebanese plastic end product manufacturer reported receiving new PE offers from a Middle Eastern producer with decreases of $15-70/ton at $1185/ton for HDPE film, $1130/ton for LDPE film and $1085/ton for LLDPE c4 film, with the terms.
The source also reported receiving new offers from an Emirati producer with $90/ton decreases at $1070/ton for LLDPE c4 film and $1150/ton for HDPE film, with the same terms.
"Prices are softer compared to the previous month due to lower monomer costs and softer crude oil prices while the global trend is bearish given the year-end period. However, demand is satisfactory amid the approaching Christmas holiday," the source stated.
In Jordan, a major Saudi producer cut its new offers by $20/ton for PP and by $70-130/ton for PE, bringing its latest prices to $1060/ton for LLDPE c4 film, $1160/ton for HDPE film, $1070/ton for LDPE film, and $1230/ton for PP raffia and inj., all on CIP Amman, 90 days basis.
In Lebanon, the Saudi major’s new PP offers were lowered by $40-70/ton from November at $1290/ton for PP fibre, $1280/ton for PP film, and $1260/ton for PP raffia and inj. while the producer’s PE offers stood at $1130/ton for LDPE film, $1085/ton for LLDPE c4 film, and $1185/ton for HDPE film and inj., all on CIF Beirut, 90 days.
Meanwhile, a Lebanese plastic end product manufacturer reported receiving new PE offers from a Middle Eastern producer with decreases of $15-70/ton at $1185/ton for HDPE film, $1130/ton for LDPE film and $1085/ton for LLDPE c4 film, with the terms.
The source also reported receiving new offers from an Emirati producer with $90/ton decreases at $1070/ton for LLDPE c4 film and $1150/ton for HDPE film, with the same terms.
"Prices are softer compared to the previous month due to lower monomer costs and softer crude oil prices while the global trend is bearish given the year-end period. However, demand is satisfactory amid the approaching Christmas holiday," the source stated.
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