Saudi Arabian major issues July prices to the local market
The producer rolled over their HDPE film, LDPE film and PET bottle prices while they lifted up their HDPE b/m prices by SAR236/ton ($63/ton). For the rest of the polymers, the producer issued SAR112/ton ($30/ton) drops for PP raffia and injection, SAR113/ton ($30/ton) drops for LLDPE film, and SAR269/ton ($72/ton) and SAR261/ton ($70/ton) cuts for GPPS and HIPS injection, respectively.
Prices now stand at SAR5250/ton ($1400/ton) for HDPE film, SAR5213/ton ($1390/ton) for PP raffia and injection, SAR5363/ton ($1430/ton) for HDPE b/m and LDPE film, SAR5175/ton ($1380/ton) for LLDPE c4 film, SAR5958/ton ($1589/ton) for GPPS, SAR6266/ton ($1670/ton) for HIPS and at SAR4607/ton ($1228/ton) for PET bottle on FD Jeddah, cash basis.
A trader, who received these new levels, commented, “We were expecting declines for all products for July although the producer followed a mix pricing policy. At the moment, overall supply levels are very comfortable in the market and demand is slow. Plus, the global markets are witnessing significant decreases and now the Saudi players here are expecting to see similar pricing policies from the local producers. Regarding business for the end products, we do not hear any expectations of a near term revival. Buyers are currently resisting these levels.”
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