Saudi Arabian producers issue March PP, PE prices
A trader commented, “One of the major local Saudi producers issued increases in line with expectations. However, as the month proceeds, we anticipate further increases since supply levels are tight. At the moment, we do not find the issued hike amounts to be too high, so we feel content. We think that the new prices are competitive with respect to the March prices announced in other Middle Eastern countries.”
Meanwhile, another trader also received offers from two local producers for raffia and injection at the same level and with the same amount of increases. According to him, a major Saudi producer’s prices are $10/ton (SAR37/ton) firmer for PP and $20/ton (SAR75/ton) firmer for PE. The trader highlighted that increases were anticipated given the firm global trend.
New March PP raffia and injection prices from the local Saudi producers stand at around SAR3787/ton ($1010/ton) for PP raffia and injection, SAR3750/ton ($1000/ton) for HDPE film and at SAR4050/ton ($1080/ton)for LLDPE film on an FD Jeddah, Saudi Arabia, cash basis.
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