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Mid-Eastern producers announce Jan PP, PE offers to Egypt

by ChemOrbis Editorial Team -
  • 04/01/2017 (16:13)
In Egypt, the January PP and PE offers emerged from different Middle Eastern producers with rollovers to some increases in line with market expectations.

A trader received the initial January PP and PE offers from a Saudi major with hikes up to $100/ton, exceeding players’ expectations. “We received the producer’s initial price list for January; however, they are not likely to sell on such levels like in the previous months,” commented the trader. A manufacturer also agreed that the major’s new offer levels are quite high and they believe that lower prices can be achieved on deals.

According to the trader’s report, the major’s new PP and PE list prices to Egypt were reported at $1310/ton for HDPE film, LLDPE film and LDPE film, at $1240/ton for HDPE blow moulding, at $1120-1150/ton for PP raffia and inj., at $1180/ton for homo-PP film and fibre, all on CIF Suez, 90 days deferred payment basis. However, the producer maintained its PPBC inj. and PPRC inj. offers unchanged at December’s levels of $1210/ton and $1310/ton, respectively with the same terms.

In addition, except for another Saudi producer who rolled over their new January offers at December levels, other Middle Eastern producers implemented hikes between $10 and $40/ton on their new January offers.

The prevailing market levels stand at $1190-1210/ton for LDPE film, at $1150-1200/ton for HDPE film and b/m, at $1180-1200/ton for LLDPE c4 film, at $1030-1080/ton for PP raffia and inj., at $1060/ton for fibre, at $1160/ton for PPRC inj. and at $1100-1120/ton for PPBC inj. with the same terms.

A trader offering on behalf of a Saudi producer said that the supplier’s allocations are limited for January, especially for LDPE film and PP fibre. “Demand is slow nowadays while we think that buying interest will improve by the next week following the holidays as market players aren’t fully back to their business yet,” added the trader. Another trader also agreed that they are expecting demand to pick up by mid-Jan after the holiday lull.

An agent offering Qatari origins also stated they are holding good allocations for January adding that demand started to improve due to the firming stance. "We heard from some of our clients that LCs openings started to enhance, and we hope to achieve good sales on our price levels,” reported the distributor.
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