Mid-Eastern producers announce Dec PP, PE prices to Lebanon
According to the buyer, a major Saudi producer revealed their December PP prices with decreases of $90/ton for PP block copolymer injection, $100/ton for PP random copolymer injection, $50/ton for PP raffia and $60/ton for PP fibre, film and injection. For PE, the producer lowered their new offers by $50/ton for LLDPE film and by $80/ton for LDPE and HDPE film.
The Saudi major’s new offers stand at $1110/ton for PPBC inj, at $1200/ton for PPRC inj, at $1040/ton for PP raffia and inj and at $1060-1070/ton for fibre and film, all on a a CIF Beirut, Lebanon, 90 days deferred payment basis. The producer is offering their December PE materials at $1200/ton for HDPE film and at $1220/ton for LDPE and LLDPE film with the same terms.
The converter reported that they also received December PP and PE prices from an Emirati producer at $1070/ton for PP block copolymer, at $1170/ton for PP random copolymer, at $1050/ton for homo-PP raffia and injection, at $1200/ton for LLDPE film and at $1140/ton for LDPE and HDPE film, all on a CIF Beirut, 90 days basis.
The buyer commented, “Supplies are ample, except for LLDPE film from the Emirati producer. Demand remains sluggish in spite of the fact that buyers traditionally replenish stocks at this time of the year ahead of holidays. However, the current global trends are pushing buyers to the sidelines.”
Meanwhile, a second end product manufacturer in Lebanon reported receiving an offer for December shipment homo-PP film from a major Saudi producer at $1070/ton CIF Beirut, 90 days. The buyer stated, “The producer’s new price level indicates a decrease of $50/ton compared to last month. However, buyers are still hesitant to make fresh purchases due to their expectations of additional decreases in the coming days.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- March PE expectations in Turkey weighed by new capacities, cooling demand
- PP prices hit 4-year low in China as demand remains minimal
- Taiwanese major’s March PVC offers to Asia up despite virus fears
- Virus-impacted demand inflicts toll on Vietnam's PE market
- HDPE fails to track firmer trend of LD, LLDPE in Europe
- China’s ABS market on soft path dragged by subdued demand
- Softening trend prevails in SEA PP market as virus fears dampen sentiment
- Chinese producers cut PET offers further amid coronavirus outbreak
- Oil and petchem companies’ earnings hit by falling margins in 2019
- Will February PP hikes prove workable in Europe?