Saudi major reveals September PP, PE offers to Egypt
A distributor reported receiving September offers from the Saudi major at $1150/ton for PP raffia and inj., $1150-1180/ton for PP film and fibre; $1190-1200/ton for HDPE film, $1220-1230/ton for HDPE b/m, $1240-1250/ton for HDPE inj., $1250/ton for LLDPE c4 film and at $1280/ton for LDPE, all on CIF, Suez, 90 days deferred payment basis.
The source commented, “Producer’s levels are expected to be trimmed down in the following days as demand is disappointing. Moreover, the rest of the Middle Eastern offers are expected to be revealed with decreases.”
A different distributor confirmed this by saying, “Demand is muted ahead of the holidays and the market will not absorb any hike attempts. Hence, players expect to close deals with discounts in the short term.”
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