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Saudi major announces June PP, PE offers to Egypt

by ChemOrbis Editorial Team -
  • 01/06/2020 (09:50)
According to players in Egypt, a major Saudi Arabian producer announced its initial offers for June with rollovers for PP and increases of $30-40/ton for PE from May levels.

The producer’s initial PPH offers were at $870-880/ton for PPH raffia and inj., $880-910/ton for PPH film, $960-980/ton for PPRC inj. and $900-940/ton for PPBC inj., CIF Egypt, 90 days. The producer’s PE offers were at $920-940/ton for LDPE film, $810-830/ton for LLDPE C4 film and $810-820/ton for LLDPE C4 film, HDPE film and b/m, with the same terms.

“Those are only the initial prices and not many buyers would be inclined to buy at these levels,” according to an end-products manufacturer. Explaining the reasons for the lack of buying interest, he said: “Firstly, the availability is largely comfortable and secondly, the rising count of confirmed COVID-19 cases is blurring the market outlook. Other hindering factors are liquidity issues and higher US dollar rates.”
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