Middle Eastern players receive Sept PP, PE prices
In the United Arab Emirates, a trader reported that a major Saudi Arabian producer announced their September offers at $1180-1190/ton for LDPE and LLDPE film, at $1170/ton for HDPE film and at $1010/ton for homo-PP raffia and injection, all on a CIF Dubai, 90 days deferred payment basis. According to him, the producer’s new offers suggest rollovers for PE and slight decreases of $10/ton for PP when compared to August.
“The market activity is slow in the midst of limited pre-holiday demand. Meanwhile, supplies are comfortable. We don’t expect an upturn for the near term,” the trader opined.
An Emirati converter also reported that a Saudi major offered them September PP raffia and injection at $1010/ton and HDPE b/m at $1230/ton on a CIF, 90 days basis. The buyer commented, “The producer’s new offers are more or less steady from last month. Demand towards our end products is disappointing nowadays. The market is now set to enter the holidays. Hence, we think that prices are not likely to improve in the short term.”
Meanwhile, Emirati players also reported that their local producer elected to roll over their September prices from August at $1170/ton for HDPE film and at $980-990/ton for PP raffia and injection, on an FD Dubai, cash basis.
In Lebanon, a house hold products manufacturer reported that a major Saudi Arabian producer approached the Lebanese market with rollovers to $10-40/ton decreases on their September prices. He stated, “Demand is okay, but it is still below our expectations. We feel no supply issues for the moment.”
According to the buyer, the producer’s new PP offers currently stand at $1090-1100/ton for PP block copolymer injection, at $1180/ton for PP random copolymer injection, at $1040/ton for homo-PP raffia and injection and at $1070/ton for PP fibre and film, all on a CIF Beirut, 90 days basis.
For PE, the producer’s new offers to Lebanon stand at $1210/ton for LDPE film, at $1190/ton for LLDPE c4 film, at $1170/ton for HDPE film, at $1200/ton for HDPE blow moulding and at $1230/ton for HDPE injection with the same terms.
In Jordan, a converter reported that he received September PP and PE prices from three different Middle Eastern producers at a rollover from August. Overall prices he reported stand at $1030/ton for homo-PP raffia and injection, at $1150-1200/ton for HDPE film, at $1170-1200/ton for LDPE film and at $1180/ton for LLDPE film, all on a CIP Amman/CIF Aqaba, 90 days deferred payment basis.
The buyer noted, “We have already started to feel the holiday lull in the market. Demand is limited to buyers’ urgent needs while supplies are available.”
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