More Mid-Eastern February PE prices emerge in Egypt
A trader offering on behalf of a Mid-Eastern producer commented that their new offer levels indicate $170-190/ton decreases when compared to their most recent January offers. “Compared to January, we see better buying interest. We already hold very limited quota amounts, so we hope to be able to sell rapidly in the market,” he added. The producer’s new offers stand at $1150-1170/ton both for HDPE and LDPE film on a CIF Alexandria, 90 days basis.
Meanwhile, a trading company offering from several regional producers stated that their LDPE film offers indicate $60-70/ton decreases from their most recent January levels at $1180/ton for light duty and at $1200/ton for heavy duty LDPE film on CIF Alexandria, 90 days basis. Meanwhile, their new HDPE film prices are down by $70-110/ton at $1180-1220/ton and their LLDPE film offers came down by $40-60/ton at $1160-1180/ton with the same terms.
“We see some improvement on buying interest since February prices have been issued with decreases. However, for the upcoming months, we believe that prices might start stabilizing. Discounts are still obtainable for serious bids given for large volumes. Nevertheless, we first want to see other regional producers’ discount policies before issuing our own. We already heard that a major Saudi Arabian producer adjusted their February PE prices downward by around $50/ton from their initial offers,” reported the source.
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