Saudi major reveals July PP, PE prices to Egypt
The producer’s offer range for LDPE film, LLDPE c4 film and HDPE film is at 1210-1240$/ton, all on a CIF Suez, Egypt, 90 days deferred payment basis while their prices stand at 1240-1270$/ton for HDPE b/m and at 1260-1290$/ton for HDPE injection with the same terms. A trader operating in the region opined, “We don’t think that the rollover decision of the producer for July is reasonable since market activity is slow and there are lower offers in the market. The producer has concluded deals at lower levels last month and offers in the local market remain soft. Therefore, these prices faced resistance from buyers.”
Looking at their new PP prices, the producer offers homo-PP raffia and injection at 1050-1080$/ton while their fibre and homo-PP film prices stand at 1080-1110$/ton, all on a CIF Suez, Egypt, 90 days deferred payment basis. A plastic end product manufacturer receiving these levels from the Saudi major reported that the new prices are stable from initial June offers and said, “We were expecting slight drops on the producer’s initial July announcements due to weak market movements but they chose to move on with rollovers. The reason behind this decision might be the anticipation of a calm market until mid-July on the back of the Eid holidays.”
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