Saudi major issues Nov PE, PP prices to Africa
The Saudi major’s new PP and PE offers currently stand at $1230/ton for LLDPE c4 film, at $1250/ton for LDPE film, at $1240-1250/ton for HDPE film, and at $1050/ton for PP homo raffia and injection, all on a CIF Algeria, 90 days deferred payment basis.
“The market is suffering from bad financial circumstances and the dinar depreciation against the US dollar. Market activity has been quiet since Ramadan. Players are only buying limited quantities given the poor demand. As for supplies, availability is not ample in the market; but this did not impact prices as many suppliers have lowered their margins while others are selling at cost levels in order to attract the poor buying interest. Meanwhile, we are expecting other producers to reveal their offers with rollovers to declines as well,” commented the trader.
In Tunisia, a plastic end manufacturer said that they received new offers from the Saudi major with rollovers to declines from October. Accordingly, the producer cut its offers by €20/ton for LDPE film, by €30/ton for HDPE injection while maintaining its homo PP offers at the latest October levels. The producer’s new LLDPE c4 film and HDPE film offers indicate steady to €10/ton declines from October.
The producer’s new offers stand at €1110/ton for LDPE film and LLDPE c4 film, €1110-1120/ton for HDPE film, €1140/ton for HDPE pipe (PE 100) and HDPE injection and at €950/ton for homo PP raffia and injection, all on a CIF Tunisia, 90 days deferred payment basis.
"Prices are very competitive now; however demand is not encouraging us to buy big amounts. Overall the market activity is stagnant and we are not certain if the reason behind that is the end of the year period or the globally poor market activities. In addition, the country is suffering from bad economic conditions and political situations which are further hindering the market activities," said the converter.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- PVC downturn persists in China’s local market despite bullish imports
- China's PP market at almost 2-year low; H2 outlook bearish
- Asian spot ethylene market plunges to decade low
- Early July expectations emerge softer in Europe’s PP market
- Import PE prices fall to lowest in more than a decade across Asia
- Tightness pushes Asian PVC markets to 3-month high
- China’s PE market continues bearish run on sluggish demand
- PP and PE markets turn softer in Egypt, Mid-East
- European PET extends bearish trend into 3rd consecutive month
- European PS, ABS markets down after 4 months