More May Middle Eastern PE prices in Egypt
A trader reported that two Middle Eastern producers’ May PE offers indicate $140/ton increases from their latest April levels. According to the trader, the new prices stand at $1550/ton for HDPE film and LLDPE c4 film on CIF Alexandria, 90 days deferred payment basis while LDPE film offers stand at $1560-1580/ton with the same terms. The high end of the LDPE film range is for heavy duty LDPE cargoes.
“Overall demand is good so far but it is not that good when compared with April in terms of sold quantities. We have around 4000-5000 tons of cargoes for May from our Mid-Eastern suppliers while the demand we see has been halved as buyers have started to be cautious on their purchase amounts since they think that the firming trend is likely to end by the end of May. At the moment, we can offer up to $10/ton discounts for serious counter bids,” added the trader.
Meanwhile, another trader reported that their Middle Eastern supplier issued $120-130/ton increases on their May HDPE and LLDPE c4 film offers at a single level of $1520/ton on CIF Alexandria, 90 days basis.
The trader remarked, “We have tight allocations from our Mid-Eastern supplier although demand is not that active. Buyers, thinking that the firming trend is likely to end by the end of this month, appear to be cautious. Many prefer to adopt a wait and see stance. On another note, we heard that one of the Saudi Arabian producers has not even revealed any prices to their own local market for May.” The trader also noted that they can offer up to $10/ton discounts for their regular customers.
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