North African players report May PP, PE prices
A converter operating in Tunisia reported receiving new May PE prices from a major Saudi producer with €150/ton and €180/ton increases for HDPE b/m and LLDPE c4 injection, respectively, at €1440/ton and at €1460/ton on CIF Tunisia, 90 days deferred payment basis. The buyer also received PPBC injection offers from the same Saudi producer at €1530/ton with the same terms. “Apart from these, we received a PPBC injection offer from a South European supplier at €1550/ton with the same terms. However, due to the force majeures at some European producers’ plants, we have not received any offers from most producers operating in that region, especially for PE. At the moment, demand is ok and this leads us to believe that the firming trend may remain in place during the summer time,” he added.
A trader operating in Morocco reported receiving €120-140/ton PE hikes from different Middle Eastern producers. “A major Saudi producer’s overall supply levels are very tight, while they are the only import source giving offers to Tunisia at the moment. However, buyers are offering resistance to higher levels and they are putting pressure on the Saudi producer to adjust their PP prices downward. Meanwhile, another Middle Eastern producer holds rather more sufficient supplies for May and their PE prices are found more reasonable than the Saudi producer’s as they are more open to negotiations. Regarding European suppliers, they are mostly absent from the market given the plant shutdowns and force majeures in that region. Regarding demand, high offer levels are pushing buyers to the sidelines,” he added.
Middle Eastern prices reported in Morocco stand at €1380/ton for LDPE film, €1360/ton for HDPE film, €1440/ton for HDPE b/m, €1360/ton for LLDPE c4 film and at €1440/ton for PP raffia and injection on a CIF Casablanca, Morocco, 90 days deferred payment basis.
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