Saudi major adopts similar pricing policy for Aug PP, PE in export markets
In China, the Saudi major revealed its new offers with decreases of $50/ton for HDPE and LDPE and $60/ton for LLDPE from last month. The producer’s PP raffia offers, meanwhile, indicated $30/ton drops from two months ago.
The fact that the Saudi major had no supply limitations for August and buying appetite towards import cargoes remained insufficient amid the devaluation of the yuan resulted in visible drops for PE for another month.
In Egypt, meanwhile, August marked the fourth consecutive month that the major Saudi producer revealed its PP and PE offers with rollovers to some decreases. The producer announced new offers with rollovers to decreases of $10-60/ton from last month.
In Turkey, the major Saudi producer initially sought rollovers although their prices were deemed as unworkable considering the prevailing market levels. According to a few converters, the major’s LLDPE c4 film prices were revised down by $10-30/ton later on in response to thin buying appetite.
“The producer may not step back from its initial HDPE offers while LLDPE might see downward adjustments. Buyers’ bids are in line with the low end of the price ranges,” a player said.
In Algeria, the Saudi major applied drops of $30/ton for PP and $20-30/ton for PE compared to its initial July levels. A source reported, “Decreases came in line with our expectations; however, we are cautious with our purchases as prices are still high.”
Meanwhile, the Saudi major’s August announcements to its own local market also indicate decreases amid good supply levels and the overall weakness in demand. The major cut its PP offers by SAR147/ton ($39/ton) from July and revealed PE offers with decreases ranging from SAR75/ton ($20/ton) to SAR113/ton ($30/ton).
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Initial ABS prices for July see larger increases than PS in Europe
- Supply constraints spark stronger PE trend than PP in global markets
- ABS, PS uptrend falters in China after H1 2020 ends at multi-month highs
- Stats: China’s total PP imports spike in May; Vietnam and India’s rising shares shine out
- Tight supply drives HDPE, LLDPE gains in Southeast Asia
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem