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Saudi major steps back from initial May PP, PE prices in Egypt

by ChemOrbis Editorial Team -
  • 17/05/2016 (13:51)
In Egypt, a major Saudi Arabian producer had issued up to $60/ton increases on their May PE prices and up to $120/ton increases on their May PP prices when compared with their latest April levels. The producer’s hike amounts had exceeded the rest of the regional producers’ increases, especially for PP.

This week, a converter reported that this particular Saudi producer issued around $20/ton discounts both on their PE and homo-PP offers to their regular customers. According to the converter, the producer still continues to offer their initial May levels, but is willing to give some small discounts to their chief accounts.

The producer’s initial May PP prices continue to stand at $1170/ton for homo-PP, at $1300/ton for LDPE, LLDPE and HDPE film, at $1330/ton for HDPE blow moulding and at $1350/ton for HDPE injection on a CIF Egypt, 90 days basis. However, now with their $20/ton discounts, the producer’s offers stand at a range of $1150-1170/ton for homo-PP, at $1280-1300/ton for LDPE, LLDPE and HDPE film, $1310-1330/ton for HDPE b/m and at $1330-1350/ton for HDPE injection with the same terms.

“The Saudi producer’s prices are already above other Middle Eastern producers’ offers, which stand at $1070-1090/ton on a CIF, 90 days. Despite the large premium their offers carry, the Saudi producer remains adamant regarding their prices and issued only small discounts to their key accounts,” underlined the buyer.
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