More Middle Eastern PP, PE prices revealed to Egypt
Accordingly, the new PP offers indicate $120-130/ton decreases from the producers’ initial August levels. However, one of these producer’s new raffia prices are $40-50/ton down when compared with their most recent August prices. Meanwhile, new PE prices indicate around $170/ton drops from early August levels.
Prices stand at $1120-1180/ton for PP raffia and injection, at $1270/ton for PPBC injection and at $1200-1250/ton for HDPE film and LLDPE c4 film on a CIF Alexandria, 90 days deferred payment basis.
“Our customers are showing resistance towards our new offer levels despite our decreases. Many place lower bids and we are waiting for the producers’ response to these counter bids. Regarding allocations, one of the Saudi producers has limited quotas spared for Egypt this month,” a trader commented.
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