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Saudi major reveals October PP, PE prices to Egypt

by ChemOrbis Editorial Team - content@chemorbis.com
  • 28/09/2015 (14:45)
A film and injection products manufacturer operating in Egypt reported receiving new October PP and PE prices from a major Saudi Arabian producer. The converter commented, “The new offer levels were opposite to what we were expecting as we found them to be too high when compared to weakly performing demand. We will be waiting to hear local PP and PE producers’ offers as well as other regional producers’ new October levels before deciding on any new purchases.”

The producer’s PE prices indicate $70-120/ton hikes when compared with their latest September levels. Their LDPE, LLDPE and HDPE film prices stand at a single level of $1370/ton on CIF Suez, 90 days deferred payment basis, according to the buyer. Meanwhile, the buyer pegged the Saudi producer’s PP raffia and injection offers at $1240/ton, up $90/ton, and at $1250/ton for PP film and fibre, up $60-70/ton when compared to their most recent September levels.

In late September, as mentioned in Egypt’s Weekly Polymer Analysis for PP and PE, limited supply talks were generating expectations of either stable or slightly firmer price levels for October. Many players were questioning if the decreasing trend was coming to an end, although they were still highlighting weak demand, which was worsened by the Eid-al-Adha holiday.
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