Middle Eastern producers announce Nov PP, PE prices to SEA
"We think that buyers may offer some resistance to these new prices as there are some more attractive offers available in the nearby Chinese market. Trading activity is limited as most buyers are sticking to the sidelines in hopes of obtaining some further discounts in the days ahead," a producer source commented.
Meanwhile, a Saudi Arabian producer announced their November prices with decreases of $40/ton for LLDPE, $50/ton for HDPE, $20-40/ton for homo-PP and $70/ton for PP block copolymer. The producer’s new prices stand at $1560/ton for LLDPE and HDPE film, $1520-1540/ton for homo-PP injection and raffia, $1550/ton for BOPP and at $1580/ton for PP block copolymer injection, all on a CIF SEA, cash basis.
"We expect to encounter some resistance from buyers, but we are confident that we will eventually be able to sell as many converters are holding limited inventory levels and will need to replenish their stocks soon," a producer source stated.
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