More April PP, PE offers surface in North Africa
In Libya, a converter reported receiving new PP and PE prices from a major Saudi Arabian producer with increases from March. According to the buyer, the new Saudi PP offers indicate $110-170/ton hikes and their PE offers represent $110-130/ton increases.
New offers stand at $1400/ton for HDPE and LLDPE c4 film, at $1420/ton for HDPE b/m, HDPE injection and LDPE film and at $1450/ton for LLDPE c6 injection on CIF Tripoli, Libya, 90 days deferred payment basis. Meanwhile, PP offers stand at $1390/ton for raffia and injection, $1420/ton for film, fibre and PP block copolymer injection, $1580/ton for PP random copolymer Type 3 and at $1510/ton for PP random copolymer injection with the same terms.
“We have not received any European offers yet since supplies are limited out of this region. Meanwhile, availability in Libya’s distribution market is also very tight as prices keep moving up. At the moment, most converters still run their plants below normal rates,” he added.
In Tunisia, the same Saudi producer also issued €70-80/ton hikes for both PP and PE, according to a trader. “The Saudi Arabian producer’s supplies are very tight while the same thing is valid for European suppliers. It seems like HDPE film is the shortest product when compared to others. Despite the recent increases, overall demand remains weak. Players are already anticipating another round of increases for May but they do not expect the increase amounts to exceed €20-30/ton,” he commented.
According to the trader, offers from the Saudi Arabian producer stand at €1280/ton for LDPE film, €1260/ton for LLDPE film, €1270/ton for HDPE film and at €1280/ton for PP raffia and injection on CIF Tunisia, 90 days deferred payment basis.
In Morocco, a trader commented, “A major Saudi Arabian producer’s PE prices indicate €120-180/ton increases from March levels while another Middle Eastern producer’s offers represent around €150-170/ton hikes over the same period. Meanwhile, we heard that a different regional producer will not offer to Morocco for April and we have not received any PP offers from any Middle Eastern producers yet. At the moment, supplies are very tight in Morocco. Traders are working with low inventory as they struggle to stock up amidst tight supplies and higher prices. However, problematic supplies are driving demand high in the country. Most buyers had covered their immediate needs only when prices were coming down. Now, before they got a chance to build up sufficient stocks, prices started to rise and now buyers appear to be rushing back to the market to get some materials.”
The trader received Middle Eastern HDPE, LDPE and LDPE film at €1240/ton on CIF Casablanca, 90 days basis. Meanwhile, he got offers from a South European producer at €1550/ton for PP block copolymer injection and offers from a West European producer at €1300/ton for LDPE film with the same terms.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Initial ABS prices for July see larger increases than PS in Europe
- Supply constraints spark stronger PE trend than PP in global markets
- ABS, PS uptrend falters in China after H1 2020 ends at multi-month highs
- Stats: China’s total PP imports spike in May; Vietnam and India’s rising shares shine out
- Tight supply drives HDPE, LLDPE gains in Southeast Asia
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem