PE done deal levels to Egypt slip, PP steady to slightly softer
“Our allocations are adequate this month while demand is better when compared to November, although it is still below average,” said the trader.
Another trader purchased some LDPE film from a Saudi producer at $1160/ton with the same terms, down $20/ton from November. The trader’s HDPE film and blow moulding offers for Saudi origins, meanwhile, are at $1140/ton, up $20/ton from November while its homo PP raffia, injection and fibre offers for the same origin represent stable to $10/ton softer levels from the previous month. The trader is currently giving offers at $1020/ton for raffia and injection and at $1040/ton for fibre, all on CIF Egypt, 90 days deferred payment basis.
The trader said that demand is good for their cargoes; however they have limited allocations for December shipments to Egypt as they’re diverting their cargoes to China and Morocco in order to achieve better margins.
In addition, an agent giving offers for Qatari origins reported offering at $1180-1200/ton for LDPE film and at $1140-1150/ton for LLDPE c4 film with the same terms. The source reported that demand is very slow due to the year-end period and they can accept $10-20/ton lower bids for large volumes.
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