Saudi PE dealt lower for Dec in Egypt, no discount on PP

A plastic end manufacturer operating in Egypt reported concluding PE deals for Saudi origin with decreases from initial December levels. Accordingly, the buyer obtained $40/ton discounts from a Saudi major compared to its initial December prices.

The converter’s recent done deal levels for Saudi LDPE, LLDPE and HDPE film are at $1170/ton CIF Suez, Egypt, 90 days deferred payment.

Meanwhile, the buyer also purchased some PP from the major at the initial December levels which stood at $1050/ton for PP raffia and injection and at $1080/ton for PP film and fibre, with the same terms.

“Demand is still weak locally as prices are firming up due to the higher dollar parity and tight availability. Buyers are still struggling with the tight liquidity problems,” commented the converter.