More Middle Eastern April PP, PE prices surface in Egypt
Following this, a Middle Eastern producer also lifted their April prices by $100/ton both for homo-PP and PE. The producer’s new offers stand at $1250/ton for PP raffia and injection and at $1300/ton for HDPE, LDPE and LLDPE on CIF Alexandria, 90 days deferred payment basis.
A different regional producer also issued $130-140/ton hikes on their April LLDPE and HDPE film prices at $1390-1400/ton on CIF, 90 days basis. According to a trader offering on behalf of the producer, the supplier sold out their quotas rapidly. “Demand surpassed our already very limited April quota amounts, so we quickly sold out our PE cargoes,” he commented. The trader also offers a Saudi producer’s raffia materials. He remarked, “This producer holds very limited quotas, especially for PP raffia. Raffia demand is performing well but supply levels appear to be tight.” The trader offers Saudi raffia at $1390/ton on CIF, 90 days basis. This level is $20/ton softer from the initial April figures pronounced for the producer’s raffia materials.
Another Middle Eastern producer commented, “We lifted our prices in line with the firming global trend. We see good demand and we hold sufficient quotas, except for LLDPE film, which is very limited. We give both cash and 90 days deferred payment options. We plan to stand firm regarding our offer levels. We think that demand is good and this is expected to help us maintain our offer levels.” The producer’s LDPE film offers are at $1400-1420/ton on CIF Alexandria, cash basis and at $1420-1440/ton on CIF, 90 days deferred payment basis.
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