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Players receive more July PP, PE prices in Egypt

by ChemOrbis Editorial Team -
  • 04/07/2016 (18:46)
Players in Egypt reported that they received more July PP and PE prices from the Middle East after two major Saudi Arabian producers pioneered rollovers to slight decreases for July last week.

A source from a Middle Eastern producer reported that they elected to implement decreases of $10-20/ton on their July shipment PE prices to Egypt. The producer’s offers currently stand at $1230/ton for LDPE film and at $1200/ton for LLDPE and HDPE film, all on an Alexandria, 90 days basis. The source noted, “We are receiving a good number of inquiries from our customers. However, players are not feeling confident about the near term outlook and they continue to make cautious purchases for the time being.”

A trader reported that they received new PP and PE prices from a Saudi Arabian producer with rollovers from June at $1080/ton for PP raffia and injection, at $1210/ton for LDPE film and at $1180/ton for LLDPE and HDPE film, all on a CIF Alexandria, 90 days deferred payment basis. He commented, “Middle Eastern producers mostly issued rollovers to slight decreases on their July offers as we initially expected. For August, we might see rollovers to increases from them as demand is likely to improve after the end of the Eid holidays.”

Another trader reported receiving July PE prices from another Middle Eastern producer at $1220-1230/ton for LLDPE film, at $1220/ton for HDPE film and at $1230/ton for HDPE blow moulding with the same terms. According to him, the producer’s new levels represent decreases of $10-20/ton from June. He said, “Demand has started to improve slightly and we receive more inquiries when compared to last month. Supplies are sufficient for July.”
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