More Lebanese buyers report February Saudi prices
A converter who received $180/ton lower homo-PP offers and $160/ton lower HDPE film prices as well as the $130/ton softer LDPE and LLDPE film offers from the producer commented, “The new February prices indicate significant decreases from January and we do not think that prices will record further decreases on top of these levels. Suppliers believe that prices have already reached the bottom and that the downward trend has started to fade. However, over the short term, we still anticipate sellers to be flexible on their offer levels and be open to negotiations.”
Meanwhile, another converter reported that the Saudi Arabian producer’s decreases came in line with the market expectations. “Buyers are still making hand-to-mouth purchases. Due to the previous rapid price changes, which occurred on an almost weekly basis, buyers are still hesitant to make large volume purchases. Overall demand is giving some signs of recovery these days.”
Looking at prices, buyers in Lebanon report PP raffia and injection at $1120/ton, PP film at $1140-1150/ton, PP fibre at $1150/ton, HDPE film at $1120/ton, LDPE film at $1170/ton, LLDPE film and HDPE injection at $1150/ton, HDPE blow moulding at $1140/ton, LLDPE injection and GPPS injection at $1200/ton, HIPS injection at $1280/ton and PET at $980/ton on CIF Lebanon, 90 days deferred payment basis.
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