More Mid-Eastern producers announce Dec PP, PE to Egypt
One regional producer cut their prices by $70/ton when compared with their latest November levels. A source from the company confirmed that they hold comfortable stocks for all products while adding that they have already concluded some deals with their regular customers. “However, further discounts are available for larger volumes. At the moment, converters are purchasing on a hand-to-mouth basis but traders are refraining from making fresh purchases as they anticipate further decreases,” he added.
The producer offers LLDPE film at $1510/ton and LDPE film at $1530-1550/ton on a CIF Alexandria, 90 days basis.
A Saudi producer revealed new PP and PE prices with $125-135/ton decreases from their early November levels while the producer’s new prices indicate $25-55/ton drops when compared with their latest November levels.
The producer is reportedly offering LLDPE film, HDPE film, HDPE injection, HDPE blow moulding, PP raffia and PP injection at a single level of $1505/ton on a CIF Alexandria, 90 days basis. Meanwhile, they offer PPBC injection at $1535/ton with the same terms.
Meanwhile, a Middle Eastern producer who does not always offer to the Egyptian market and whose most recent prices had been reported in October approached Egypt this month with prices standing at a single level of $1500/ton for HDPE film, HDPE blow moulding, PP raffia and PP injection on a CIF Alexandria, 90 days deferred payment basis. These new prices are $110-120/ton lower when compared with the producer’s latest offers.
The latter two regional producers’ allocation amounts are not clear for November, but players are confident that further decreases will be obtainable as the month proceeds.
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