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Saudi major announces June PP, PE prices to Philippines: trader

by ChemOrbis Editorial Team - content@chemorbis.com
  • 27/05/2015 (11:59)
A trader based in the Philippines reported that a major Saudi Arabian producer announced their June PP and PE prices to the Philippines with decreases of around $30-40/ton from their most recent May offers reported two weeks ago.

The producer’s new June PP prices stand at $1450-1470/ton for block copolymer, at $1510/ton for random copolymer, at $1380/ton for raffia and at $1410/ton for film, all on a CIF Philippines, cash basis. For PE, the producer is offering LDPE film at $1430/ton, LLDPE film at $1400-1420/ton and HDPE film at $1420/ton with the same terms.

The trader commented, “We feel that demand is currently not strong enough to support these levels and we expect to see some corrections by the end of June when many plants will be restarted after maintenance shutdowns.”

In Southeast Asia, PP prices for Middle Eastern origins currently stand at $1410-1470/ton for block copolymer, at $1510/ton for random copolymer, at $1360-1390/ton for raffia and at $1410/ton for film, all on a CIF SEA, cash equivalent basis. Middle Eastern PE offers, meanwhile, are reported at $1430/ton for LDPE film, at $1370-1440/ton for LLDPE film and at $1380-1440/ton for HDPE film with the same terms.
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