Saudi major announces Sept PP, PE offers to local market
According to a trader’s report, the producer issued mainly rollovers for homo PP and PE grades except for LDPE film offers, which were cut down by SAR187/ton ($50/ton) compared to their latest August levels.
The major’s new September offers are standing at SAR4313/ton ($1150/ton) for HDPE film and LLDPE film, at SAR4688/ton ($1250/ton) for LDPE film, at SAR4125/ton ($1100/ton) for PP raffia and inj., all on an FD Jeddah, Saudi Arabia, cash basis.
“The producer’s announcements came in line with the previous market expectations. Demand has been good particularly for PP over the past period, although overall trading has wound down ahead of the Eid holidays. We are waiting for the rest of the domestic producers to reveal their September offers accordingly,” argued a few traders.
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