Saudi major’s Oct PP, PE offers to Lebanon follow regional upturn
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.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Freight rates near pre-Covid levels as pace of normalization accelerates
- Bleak outlook for Q1 keeps European PP, PE buyers sidelined
- PLAST EURASIA 2022: Eyes on Russian and US supplies with demand woes in focus
- December PE offers to SE Asia imply further drops, yet to respond to China
- Has the bear market for Asian PVC almost run its course?
- Demand outlook for crude oil dims amid China worries
- Asian styrene prices rebound from almost two-year lows
- Turkey’s PE market on brink of new drops for December
- Signs of optimism in China PP and PE markets, but caution remains
- Egypt’s import PP, PE markets flat but domestic prices turn upwards in Nov