Saudi major reveals October PP, PE offers to Egypt
A source reported receiving October offers from the Saudi major at $1150/ton for PP raffia and inj., $1180/ton for PP film and fibre; $1200/ton for HDPE film, $1230/ton for HDPE b/m, $1250/ton for HDPE inj. and LLDPE c4 film and at $1280/ton for LDPE, all on CIF, Suez, 90 days deferred payment basis.
The source commented, “We think that the producer will not step back from their initial offers. On the other hand, local demand remains quiet amidst cash flow problems.”
Players continue to report that tight liquidity, collection problems and higher production costs are hindering smooth trading activities whereas other producers might take upstream gains into consideration while deciding on next month’s pricing policy. Limited local availability might also encourage regional producers to stand firm on their offers.
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