Saudi major reveals March PP, PE offers to Algeria, Tunisia
A trader in Algeria reported receiving March PP and PE prices from the producer with increases of $50-70/ton from February.
The Saudi major’s new PP and PE offers currently stand at $1320/ton for LLDPE c4 film, at $1360/ton for LDPE film, at $1300-1320/ton for HDPE film, and at $1230-1250/ton for PP homo raffia and injection, all on a CIF Algeria, 90 days deferred payment basis.
The trader said the producer attributed the increases to their tight availability and added, "The same trend is observed in other nearby markets as prices are firming up given limited supplies. However, demand remains disappointing. We are trying to watch the market for more competitive offers from other suppliers before we make any new purchases," added the trader.
In Tunisia, several converters also said that they received new offers from the Saudi major with increases of €30-70/ton for PE grades and by €70/ton for PP from its February offers.
Accordingly, the producer’s new offers are reported at €1350-1360/ton for LDPE film, €1240-1270/ton for LLDPE c4 film, €1220-1260/ton for HDPE film, €1270/ton for HDPE pipe (PE 100), €1220/ton for HDPE injection and at €1160/ton for homo PP raffia and injection, all on a CIF Tunisia, 90 days deferred payment basis.
A manufacturer noted that prices are very high now while the market state is not promising. "Supplies are tight this month; hence prices have recorded significant hikes. Demand for our end product is stumbling, but we are hoping to see some improvements by the upcoming month," commented the converter.
Another manufacturer also said, "Prices are high, and manufacturers are struggling to reflect the increases on their costs. We are hesitant about the upcoming period. That’s why, we are purchasing cautiously.”
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