Middle Eastern players receive import May PP, PE offers
A trader operating in Algeria reported, “A major Saudi Arabian producer’s May PP hikes reached around $200/ton given their very limited availability. The producer offers PP raffia at $1460/ton, PP injection at $1480/ton and PPRC injection at $1700/ton on CIF Algeria, 90 days deferred payment basis. However, they only offer to a very limited number of their customers and we only heard their PP offers so far. We have not received any PE offers from the producer yet. Meanwhile, generally restricted quota amounts are not specific to this particular producer. Pretty much all suppliers have very limited allocations for May. Meanwhile, demand has been improving on the back of tight supplies. We generally struggle when trying to obtain HDPE b/m, PVC, GPPS and PPRC.” The trader also received some South European LDPE film offers at $1550/ton and HDPE b/m offers at $1580/ton on CIF, 90 days basis.
A household products manufacturer operating in Lebanon reported receiving a major Saudi Arabian producer’s offers with $220/ton hikes on their May PE prices while adding that the producer also liftedtheir PP prices by $70-190/ton. “These hike amounts were above the general market expectations,” reported the buyer.
The buyer received PP film and fibre at $1500/ton, PP raffia and injection at $1470/ton, PPBC injection at $1480/ton and PPRC injection at $1580/ton on CIF Beirut, Lebanon, 90 days deferred payment basis. Meanwhile, he obtained HDPE film at $1550/ton, LDPE film, HDPE b/m and injection at $1570/ton, LLDPE c4 film at $1540/ton and LLDPE c4 injection at $1580/ton with the same terms.
Meanwhile, a film and injection products manufacturer operating in Jordan said, “We received new May prices from two different Middle Eastern producers. Both producers hold very limited allocations, although a major Saudi producer’s quotas are relatively better when compared with the other Middle Eastern supplier’s. At the moment, most buyers prefer to meet their immediate needs only and therefore, overall demand is not performing well. Sellers are not open to negotiations and we could only secure small quantities of material. However, we believe that prices have reached a peak and that they should start stabilizing as of June before recording decreases in July given slow demand in Ramadan.”
The buyer received offers from a major Saudi producer at $1550/ton for HDPE film, $1560/ton for LDPE film, $1530/ton for LLDPE film and $1450/ton for PP raffia and injection on a CPT Amman, Jordan, 90 days deferred payment basis. According to the buyer, the producer’s PE prices indicate $210-230/ton increases for PE and $170/ton increases for PP.
Meanwhile, the buyer also received LDPE, LLDPE c4 film and HDPE film offers at $1450/ton and PP raffia and injection offers at $1325/ton on a CIF Aqaba, Jordan, 90 days deferred payment basis from another Middle Eastern producer.
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