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Saudi distributor: Buyers refrain from purchasing

by ChemOrbis Editorial Team -
  • 11/11/2014 (15:44)
A distributor operating in Saudi Arabia reported that a major domestic producer remained firm on their November prices after issuing decreases of $90/ton (SAR338/ton) for LLDPE film, $70/ton (SAR263/ton) for HDPE film and $50/ton ($188/ton) for light duty LDPE film and $70/ton (SAR263/ton) for homo PP raffia and injection.

“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.
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