More Middle Eastern March PP, PE offers revealed to Egypt
A trader, who is offering HDPE film at $1180/ton and LLDPE film at $1200/ton on CIF Alexandria, 90 days basis on behalf of a Middle Eastern producer also received new prices from other regional producers. The trader got PE offers with $160/ton increases and PP offers with $120-130/ton hikes from a Saudi producer. The new offer levels stand at $1260/ton for HDPE and LLDPE film, at $1220/ton for raffia and injection and at $1230/ton for PPBC injection on CIF, 90 days basis.
Meanwhile, the trader also received March offers from a different Saudi producer at $1230/ton for PP block copolymer, at $1220/ton PP raffia and injection and at $1260/ton for HDPE and LLDPE film with the same terms.
He commented, “Overall supply levels are very short for almost all products for March. Traders faced major losses during the previous period since many players had cancelled their orders amidst the decreasing trend. Nevertheless, players are back in the market these days, rushing to secure some cargoes as they fear further increases in the upcoming days. Demand is also picking up and supporting these hikes along with availability issues. Considering these circumstances, we only offer discounts of up to $10/ton.”
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