Saudi major’s Oct PP, PE offers to Lebanon follow regional upturn

Players in Lebanon are receiving import PP and PE offers for October from the Middle Eastern suppliers. A Saudi major is asking for increases over September in line with the upturn in other regional markets.

A household manufacturer in Lebanon received new PP offers from the Saudi major with $50/ton increases at $1230/ton for PP raffia and injection and $1260/ton for PP film. Offers for PP block copolymer were an exception as they were steady on the month at $1240/ton, all CIF Beirut, 90 days deferred payment.

In the PE market, the producer respectively applied $20/ton, $30/ton and $40/ton increases on LDPE, LLDPE and HDPE film, offering at $1310/ton, $1220/ton and $1220/ton, all CIF Beirut, 90 days deferred payment, the buyer reported.

Considerably larger increases were reported for HDPE injection as its offer was up by $90/ton to $1240/ton with the same terms.

“Demand is gradually improving in line with the preparations for the Christmas and new year holidays. Therefore, players have started to secure their needs,” the buyer said. He added that the Saudi major is able to deliver without any problem whereas other Middle Eastern producers have limited quantities to offer.