Saudi Arabian producers announce new July PP, PE offers to local market
According to market players, the producers rolled over their prices for PP while lowering their prices by SAR38-75/ton ($10-20/ton) for PE grades from their latest June offers in line with expectations amidst weak upstream markets and unsupportive demand.
The producers’ new July PE and PE offers are currently standing at SAR4425-4463/ton ($1180-1190/ton) for HDPE film, at SAR4388-4425/ton ($1180/ton) for HDPE b/m, at SAR4350/ton ($1160/ton) for HDPE inj., at SAR4875/ton ($1300/ton) for LDPE film, at SAR4500/ton ($1200/ton) for LLDPE c4 film, at SAR4125/ton ($1100/ton) for PP raffia and inj., all on an FD Jeddah, Saudi Arabia, cash basis.
“July offers were announced with rollovers to decreases from the previous month as expected; however, market activities remain quiet after the holidays,” said a trader.
Another trader commented that the market trend is yet to be shaped after the Eid holidays while activities are disappointing nowadays.
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