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Saudi major gives further discounts on June PP, PE deals in Egypt

by ChemOrbis Editorial Team -
  • 14/06/2016 (15:54)
An end product manufacturer reported that they concluded some June PP and PE deals with a major Saudi Arabian producer with additional discounts from the producer’s initial announcement levels which suggested decreases of $20-50/ton when compared to May.

According to the buyer, the new June deals they concluded with the producer indicate further discounts of around $40-70/ton from their initial June levels. The buyer purchased homo-PP raffia and injection at $1050-1080/ton CIF Suez, 90 days deferred payment basis and LDPE, LLDPE and HDPE film at $1210-1240/ton with the same terms.

The converter commented, “We secured our urgent needs from the major producer as we were able to obtain further discounts. In the local market, demand remains weak and trading activities are quite slow given the month of Ramadan.”
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