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Saudi major announces November PP, PE offers to local market

by ChemOrbis Editorial Team -
  • 28/10/2020 (14:56)
A major Saudi producer’s November PE offers were largely firmer by SAR40-188/ton ($10-50/ton) from October, except for HDPE inj., which remained stable. New offers for PPH were likewise higher, jumping by SAR88-225/ton ($25-60/ton) over their previous levels.

The latest offers were at SAR3713/ton ($990/ton) PPH raffia, inj. and PPH fibre, SAR3825/ton ($1020/ton) for PPBC inj., SAR4050/ton ($1080/ton) for PPRC inj., SAR4125/ton ($1100/ton) for LDPE film, SAR3563/ton ($950/ton) for LLDPE C4 film, SAR3713/ton ($990/ton) for HDPE film, SAR3563/ton ($950/ton) for HDPE inj., and HDPE b/m, all on FD Jeddah, cash basis.

Although some increases were expected for certain grades, players reported that the amount of hikes took some by surprise. The market was reported to have been moving slowly while demand was still moderate. Some traders also voiced their concern, saying that the recent hikes might slow down the activities further.

Saudi Arabia announced the complete lifting of restrictions on entering and exiting the country in September. The resumption of transport through land, sea and airports is expected to begin after January 1, 2021.
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