Saudi major announces May PP, PE offers to Egypt
by ChemOrbis Editorial Team - content@chemorbis.com
According to players in Egypt, a major Saudi Arabian producer announced its initial PP and PE offers for May with rollovers from early April levels. First reactions to the latest announcement have so far been unenthusiastic, according to market players.
The producer’s initial PPH offers were at $910-930/ton for PPH raffia and inj., $930-950/ton for PPH film and fibre, $990-1010/ton for PPRC inj. and $950-970/ton for PPBC inj., CIF Egypt, 90 days. The producer’s PE offers were at $940-960/ton for LDPE film and $820-840/ton for LLDPE C4 film, HDPE film and b/m, with the same terms.
“Demand is not strong enough amid Ramadan lull. We believe that the producer will show willingness to adjust its offers down later in the month,” a trader commented.
The producer’s initial PPH offers were at $910-930/ton for PPH raffia and inj., $930-950/ton for PPH film and fibre, $990-1010/ton for PPRC inj. and $950-970/ton for PPBC inj., CIF Egypt, 90 days. The producer’s PE offers were at $940-960/ton for LDPE film and $820-840/ton for LLDPE C4 film, HDPE film and b/m, with the same terms.
“Demand is not strong enough amid Ramadan lull. We believe that the producer will show willingness to adjust its offers down later in the month,” a trader commented.
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