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Saudi Arabian producer cuts local PP, PE, PS prices for January

by ChemOrbis Editorial Team -
  • 25/12/2014 (17:50)
In Saudi Arabia, a major local producer revealed their new January offers today. The new announcements came in line with the previous market expectations as they indicate decreases from December. However, a distributor who obtained the producer’s new offer levels commented that the amount of decreases that the producer issued exceeded their expectations.

Prior to the producer’s announcements, a distributor had highlighted their lower January expectations on the back of weak demand, sufficient supplies and limited purchase amounts.

Looking at the producer’s new January prices, they indicate SAR600/ton ($160/ton) decreases for PE while they represent even larger drops of SAR900/ton ($240/ton) for PP and PS. Offer levels stand at SAR4388/ton ($1169/ton) for HDPE film, SAR4425/ton ($1179/ton) for HDPE b/m and at SAR4463/ton ($1189/ton) for HDPE injection on an FD Jeddah, Saudi Arabia, cash basis. For PP raffia and injection, offers stand at SAR4500/ton ($1199/ton) while prices stand at SAR 4875/ton ($1299/ton) for GPPS and at SAR5175/ton ($1379/ton) for HIPS with the same terms.
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