Saudi Arabian players receive Sept prices from local producers
A trader reported that the market’s softer September expectations were based on the globally decreasing trend, retreating costs, slow demand as well as the lower Saudi Arabian prices which surfaced in other global markets such as Turkey.
A major Saudi Arabian producer approached the market with up to SAR637/ton ($170/ton) drops for their September PE prices. The producer offers HDPE film at SAR4500/ton ($1200/ton), LDPE film at SAR4538/ton ($1210/ton), LLDPE film at SAR4463/ton ($1189/ton) and LLDPE injection at SAR4650/ton ($1240/ton) on an FD Jeddah, Saudi Arabia, cash basis. Meanwhile, the producer’s new PP raffia and injection offers stand at SAR4125/ton ($1100/ton), their GPPS prices stand at SAR4988/ton ($1330/ton), HIPS at SAR5288/ton ($1410/ton) and PET at SAR3748/ton ($999/ton) with the same terms.
However, players report more competitive offers, especially for homo-PP, from other Saudi producers. There are PP raffia and injection offers reported as low as $1050/ton on FD Jeddah, Saudi Arabia, cash basis and at $1040/ton on ex-Jeddah, Saudi Arabia, cash basis in the market.
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