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Middle Eastern players receive more February polymer prices

by ChemOrbis Editorial Team - content@chemorbis.com
  • 03/02/2015 (14:40)
In the Middle East, players operating in Jordan, Lebanon, the United Arab Emirates and Saudi Arabia have started to report more February offers from regional producers.

In Lebanon, a household products converter reported receiving lower HDPE and LLDPE film prices from a regional producer at $1120/ton for HDPE film and at $1200/ton for LLDPE c4 film on a CIF Beirut, Lebanon, 90 days deferred payment basis.

“We heard that the producer had sold out at $1150/ton in January. However, the producer denied that and said that the minimum price they offered to their trading agent was at $1230/ton in January,” added the buyer.

In the United Arab Emirates, a distributor was offered Saudi Arabian PP raffia and injection at $1100/ton on CIF Dubai, United Arab Emirates, 90 days deferred payment basis. The trader also received new February prices from a local producer at $1050/ton for PP raffia and injection on FD Dubai, United Arab Emirates, cash basis.

“Local producers’ offers are very competitive when compared with the import Saudi offers we received. Considering this situation, we anticipate some downward adjustments from the Saudi producer in the days ahead. Meanwhile, overall demand remains restricted inside the country while buyers keep watching the global markets closely and not securing any cargoes beyond their needs,” he stated.

In Saudi Arabia, a major local producer cut their February PP, PVC, PE, PS and PET prices on FD Jeddah, Saudi Arabia, cash basis.

The producer cut their PE prices by SAR452-629/ton ($120- 167/ton) for February at SAR3684/ton ($980/ton) for HDPE and LLDPE c4 film and at SAR3898/ton ($1038/ton) for HDPE blow moulding .For PP, they issued SAR741/ton ($197/ton) drops at SAR3759/ton ($1001/ton) for PP raffia and injection and at SAR3828/ton ($1020/ton) for PP film. For PS, the producer’s new February offers indicate SAR363-364/ton ($97/ton) decreases at SAR4511/ton ($1201/ton) for GPPS injection and at SAR4812/ton ($1281/ton) for HIPS injection. For PVC k67-68 and PET, the producer offers at SAR3459/ton ($920/ton) and at SAR3462/ton ($922/ton), respectively, with the same terms.

A distributor who obtained these prices from the Saudi producer commented, “After the recent decreases, we have seen some improvement in demand. Players have started to think there will not be any further decreases on prices starting from March. The local Saudi producer only implemented some downward adjustments for certain customers for PP in January. However, we were not included in that lot. Meanwhile, there are some late deliveries from the producer, but in general market players are not experiencing problems about finding supplies. We think that the producer is deliberately delaying their cargoes in an attempt to support their levels.”

In Jordan, a converter reported receiving new February prices from a major Saudi Arabian producer. The producer’s initial prices indicate $160-180/ton decreases for HDPE film, $170/ton for LDPE film and $210-230/ton for LLDPE film.

“We received up to three digit decreases from January. However, prices are still negotiable and we managed to obtain $30/ton discounts on top of the $160-180/ton decreases announced for the initial February HDPE film offers. We were first given HDPE film offer at $1120/ton but later on we managed to get $1090/ton from the producer. Meanwhile, the producer also offered LDPE film at $1170/ton and PP raffia and injection at $1050/ton on CIF Aqaba, Jordan, 90 days basis. At the moment, we are in negotiations on their PP prices. We hope that significant additional decreases could be achievable on PP since overall demand remains very limited in the country and sellers will face some pressure to give discounts in order to sell cargoes,” he stated.
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