Middle Eastern PP, PE prices announced higher to SEA
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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