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Middle Eastern PP, PE prices announced higher to SEA

by ChemOrbis Editorial Team -
  • 23/02/2016 (14:42)
Players in Southeast Asia report that they are receiving new prices for Middle Eastern PP and PE with increases from the previous week as sellers are taking a firmer stance on their prices and other major polymer markets are also following a firming trend.

A trader based in Indonesia reported issuing new prices from two different Saudi producers at $890-910/ton for homo-PP injection and raffia, at $1070/ton for HDPE film and at $1080-1100/ton for LLDPE film, all on a CIF, cash basis. “Prices are gaining ground and we hear that some Middle Eastern producers will have limited allocations to offer to the region this month,” the trader commented.

A trader based in Malaysia said that they received offers from two Middle Eastern suppliers at $1100/ton CIF, cash for HDPE and LLDPE film. “We believe that we will be able to purchase at $1080/ton after negotiations while we are also waiting to hear new prices from a third Middle Eastern supplier, whose offers we expect to receive later this week,” the trader said.

A source from a Middle Eastern PE producer added, “We have not announced our March prices yet, but we are thinking to announce at around $1100/ton for both HDPE and LLDPE film. LLDPE supply is a bit tight and we believe that this will also put some upward pressure on LLDPE prices and that HDPE prices will track LLDPE higher.”

Import prices currently stand at $870-930/ton for homo-PP injection and raffia, at $1070-1100/ton for HDPE film and at $1080-1100/ton for LLDPE film, all on a CIF SEA, cash equivalent basis.
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