Saudi major reveals April PP, PE prices to Egypt and Jordan
A trader operating in Egypt reported that the new prices indicate three digit increases from the producer’s March levels.
According to the trader, the Saudi major’s prices indicate $170-190/ton increases for homo PP and PP block copolymer while their PP random copolymer prices indicate $150-190/ton increases from March. Meanwhile, the producer’s PE prices are $110-150/ton above their March levels. “We were surprised by the very large increase amounts and we have not negotiated on prices yet. We want to hear other Middle Eastern producers’ offers first,” he commented.
The producer’s prices stand at $1370/ton for PP raffia and injection and at $1400/ton for film, fibre and PP block copolymer injection on a CIF Suez, 90 days deferred payment basis. Meanwhile, their PP random copolymer injection offers are at $1490/ton and their PP random copolymer type 3 offers stand at $1560/ton. The producer also offers HDPE and LLDPE film at $1380/ton, HDPE b/m at $1410/ton and LDPE film and HDPE injection at $1400/ton with the same terms.
Meanwhile, in Jordan, a film and injection converter operating in Amman commented, “The Saudi producer issued around $100/ton hikes when compared with their March levels. We are not sure about the producer’s April allocations. We are currently waiting to hear the rest of the Middle Eastern producers’ offers, but we anticipate similar hike attempts. It seems like demand has picked up in the country.” The buyer also underlined the fact that locally held supplies are adequate.
The buyer received April HDPE and LLDPE film at $1320/ton, LDPE film at $1330/ton and PP raffia and injection at $1280/ton on CIF Aqaba, Jordan, 90 days deferred payment basis.
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