More Mid-Eastern producers announce April PP, PE prices to SEA
A source from a Saudi Arabian producer reported that they revealed their April PP and PE prices with increases to the regional markets at $1080/ton for homo-PP raffia, at $1240-1250/ton for LLDPE film and at $1220-1230/ton for HDPE film, all on a CIF SEA, cash basis. The source commented, “PP prices have increased more than $100/ton in the past month given tight supplies while we are currently operating our PP plant at full rates following our restart. For PE, supplies are normal. However, prices may witness further increases in the near term due to firmer spot ethylene costs.”
Meanwhile, another Middle Eastern producer also announced $100/ton higher PE prices for April to Southeast Asia at $1200/ton CIF, cash for LLDPE film, HDPE film and HDPE blow moulding. A source from the producer opined, “We are not planning to issue additional increases on our prices for now as we think that we may start to see re-exported cargoes from China soon if Southeast Asian markets rise too much. We believe that the market will remain on the firm side until May on the back of ongoing maintenance shutdowns at several regional plants.”
In Southeast Asia, overall Middle Eastern PP and PE prices are currently reported at $1020-1080/ton for homo-PP raffia, at $1190-1220/ton for LDPE film and at $1195-1250/ton for LLDPE and HDPE film, all on a CIF SEA, cash equivalent basis.
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