Saudi Arabian major’s July PE offers surface in Turkey
Accordingly, the Saudi Arabian major’s new PE prices are standing at $1450/ton for LLDPE film and $1490/ton for HDPE film both on an FCA Turkey, subject to 6.5% customs duty, cash basis.
“Although the producer announced their new prices with a decrease of $60/ton, we are in no rush to purchase for now as we feel that prices will post additional decreases,” a packaging converter mentioned.
Prior to the supplier’s new announcement, a sack manufacturer had commented, “PE prices will probably retreat further. There is a prevalent slowing in global markets while the month of Ramadan is also hampering the market activities in Turkey. A Saudi major may issue $50-60/ton decreases for July. Meanwhile, we think that supply may tighten by September considering very limited replenishment activities on the part of traders.”
New July offers from other Middle Eastern suppliers were mostly revealed, indicating decreases ranging from $50/ton to $80/ton.
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