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Saudi major announces March PP, PE offers to Egypt

by ChemOrbis Editorial Team -
  • 27/02/2017 (11:16)
In Egypt, initial March PP and PE offers were revealed on a stable to firmer note from February, in line with the market expectations amidst the ongoing supply limitations in Africa and the Middle East.

Several sources reported receiving new March PP and PE offers from a Saudi producer. According to a converter, the producer increased its offers by $50-70/ton for homo PP and PE products, except for HDPE grades which indicated rollovers to $20/ton higher levels from the previous month. The new prices for copolymers types are also indicating hikes of $10-30/ton from February.

Sources commented that the new offers may see resistance from the market amidst the weak sentiment in place. Expecting a downward revision on deals from the Saudi major, players believe that other Middle Eastern producers will follow suit for March.
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