Saudi distributor: Buyers refrain from purchasing
“The producer is not willing to announce further decreases on their offer levels. Overall supply levels are comfortable but buyers are not willing to make purchases in large volumes given the decreasing trend in other global polymer markets. Meanwhile, the gap between the prices here and prices offered to Turkey is widening. We see that prices are decreasing at a faster rate in Turkey than Saudi Arabia. Therefore, we believe that December prices should be lower in Saudi Arabia. Yet, our decrease expectations from the producer do not exceed $20-30/ton, “he further added.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- US PE prices move down on weak appetite from export markets
- Further price cuts in Vietnam’s PP market fail to revive demand
- Asian PS, ABS markets remain weak on rising trade tensions
- Spot styrene sharply down in Europe and Asia
- Expectations soften for PP raffia, fibre yet to follow in Turkey
- Will PE supplies from China flock to SEA?
- LDPE, LLDPE highest since Q3 2018; HDPE at 6-month high in Europe
- Intensifying trade war adds to bearishness in China’s local PP, PE markets
- PET prices hit multi-month lows in Asia and Europe
- Rising momentum fizzles out in European PS, ABS markets