Offers and sell ideas revealed to Jordan for February PP, PE
The buyer received a Saudi Arabian LDPE film sell idea with $110/ton decreases at $1230/ton, LLDPE film with $120-220/ton drops at $1180/ton and HDPE film with around $100-120/ton cuts at $1180/ton on CIF Aqaba, Jordan, 90 days deferred payment basis.
Apart from this major Saudi producer’s sell ideas, the converter also received a February shipment HDPE film price from the Middle East at $1190/ton with the same terms. This price is more or less in line with Saudi producer’s sell idea and indicates $90-110/ton drops compared with the January Middle Eastern HDPE range. The buyer also received homo PP raffia and injection offers from the same origin at $1050/ton with the same terms.
“We had abandoned our import purchases during January, but these days we have been slowly returning to the market for February transactions. A major Saudi producer revealed their sell ideas while another regional producer already approached the market with their February offers. Looking at the Jordanian market, overall end product demand is still slow and, like other players, we prefer to wait for more offers to surface before deciding on whether to purchase or not. We believe that prices still have room to come down and that there might be some downward adjustments as the month proceeds,” commented the buyer.
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