More Mid-Eastern producers announce March PP,PE prices to SEA
by ChemOrbis Editorial Team - content@chemorbis.com
A trader based in Vietnam reported that more Middle Eastern producers have announced their new March PP and PE prices to the Southeast Asian market with sizeable increases from February.
The trader received new PE prices from a Saudi Arabian producer with increases of $90/ton for HDPE at $1220/ton CIF SEA, cash and increases of $100-110/ton for LLDPE at $1210-1220/ton with the same terms.
He also reported receiving new offers from another Saudi Arabian producer with increases of $100-110/ton for PE and $190/ton for PP from the previous month. The trader stated that their Saudi supplier currently offers HDPE and LLDPE film at $1220/ton CIF, cash while their homo-PP prices stand at $1170/ton for injection and raffia with the same terms.
“Prices are higher on the back of tight availability. We believe that the market will remain firm in the near term as several shutdowns are likely to keep supply levels low. Meanwhile, we are planning to monitor the developments in China once the Chinese players return to their desks following the New Year holidays,” the trader commented.
The same trader also reported that they managed to purchase around 100 tons of homo-PP from a major Saudi producer at $1150/ton CIF Vietnam, cash, stating, “We requested more materials from the supplier but they informed us that they had no quantity.”
The trader received new PE prices from a Saudi Arabian producer with increases of $90/ton for HDPE at $1220/ton CIF SEA, cash and increases of $100-110/ton for LLDPE at $1210-1220/ton with the same terms.
He also reported receiving new offers from another Saudi Arabian producer with increases of $100-110/ton for PE and $190/ton for PP from the previous month. The trader stated that their Saudi supplier currently offers HDPE and LLDPE film at $1220/ton CIF, cash while their homo-PP prices stand at $1170/ton for injection and raffia with the same terms.
“Prices are higher on the back of tight availability. We believe that the market will remain firm in the near term as several shutdowns are likely to keep supply levels low. Meanwhile, we are planning to monitor the developments in China once the Chinese players return to their desks following the New Year holidays,” the trader commented.
The same trader also reported that they managed to purchase around 100 tons of homo-PP from a major Saudi producer at $1150/ton CIF Vietnam, cash, stating, “We requested more materials from the supplier but they informed us that they had no quantity.”
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