Mid-Eastern producers issue new May PP, PE offers to Lebanon, UAE
In Lebanon, a household manufacturer said that Mid-Eastern suppliers’ new PE offers are indicating rollovers to up to $60/ton decreases from April. For PP, some producers preferred to maintain their offers at April levels while some applied visible decreases of $90-130/ton from the previous month.
The suppliers’ new offers are standing at $1380-1390/ton for LDPE film, at $1290-1320/ton for LLDPE c4 film, at $1280-1290/ton for HDPE film, at $1230/ton for HDPE b/m, at $1270/ton for HDPE inj., at $1160-1210/ton for PP raffia and injection and at $1250-1260/ton for PPBC inj, all on CIF Beirut, 90 days deferred payment basis.
“Supplies are comfortable this month. Although demand is slightly improving, it is still limited to the immediate needs. We hope that demand will witness further improvements over the short term ahead of Ramadan," added the manufacturer.
In the United Arab Emirates, a trader received new PP and PE offers for May from both local and import suppliers with rollovers to up to $70/ton decreases from the previous month. According to the trader’s report, new import PP and PE offers are reported at $1330-1350/ton for LDPE film, at $1230-1260/ton for LLDPE c4 film, at $1250/ton for HDPE film and at $1220/ton for HDPE b/m and at $1130-1190/ton for homo PP raffia and inj., all on CIF Dubai, 90 days basis.
Meanwhile, the local producer Borouge’s new offers were reported at $1130-1160/ton for homo PP raffia and inj., at $1230/ton for PPBC inj., at $1240/ton for LLDPE c4 film, at $1180-1200/ton for HDPE film, at $1220/ton for HDPE b/m and at $1320/ton for HDPE pipe (PE 100), all on FD Dubai, cash.
Players agreed that allocations are good and demand is still limited to buyers’ basic needs. A trader argued that the downward trend may persist in June given the globally soft trend and softening crude oil prices.
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