More April PP, PE offers reported in the Middle East
The trader obtained offers for PP raffia and injection at $1300/ton and HDPE and LLDPE c4 film at $1330/ton on CIF Dubai, United Arab Emirates, 90 days basis. “Middle Eastern producers’ supplies are very tight, especially for PP grades,” he added.
Meanwhile, another trader, also operating in Dubai, received April PP and PE prices from two different Saudi producers while they also received offers from the local Emirati producer. “Saudi prices indicate increases of $100/ton for homo-PP and $80-140/ton for PE products. Overall demand is performing well while prices are increasing amidst tightness, especially for PP and LLDPE film. The local producer, however, is delivering adequate levels to the market,” he added.
The trader obtained Saudi Arabian PP raffia and injection at $1240/ton, LLDPE film at $1290/ton, HDPE film at $1330/ton and LDPE film at $1330-1350/ton on CIF Dubai, 90 days basis. Meanwhile, they received the domestic offers at $1180-1200/ton for raffia and injection and at $1250/ton for HDPE b/m, LLDPE and HDPE film on ex-Dubai, cash basis.
Meanwhile, in Saudi Arabia, a distributor reported receiving new April offers from two domestic producers at the same levels for homo-PP and HDPE film. “The producers’ prices indicate $100/ton increases from their March levels. Both producers are offering roughly at the same levels and they both deliver very limited HDPE film quantities to the market. We heard a rumor claiming that both producers are experiencing shutdowns at their HDPE plants and that’s why their supplies have been affected. Generally, demand is performing well but supplies are very limited,” he added.
Local prices stand at SAR4350-4425/ton ($1160-1180/ton) for LDPE film, SAR4410/ton ($1176/ton) for LLDPE c4 injection, SAR4125/ton ($1100/ton) for HDPE film and blow moulding, at SAR3750/ton ($1000/ton) for HDPE injection, SAR4900/ton ($1306/ton) for PET, SAR4163/ton ($1110/ton) for PP raffia and injection, at SAR5074/ton ($1353/ton) for GPPS injection and at SAR5382/ton ($1435/ton) for HIPS on FD Jeddah, Saudi Arabia, cash basis.
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