Saudi players receive April PP, PE prices from a local producer
The producer issued SAR263/ton ($70/ton) hikes on their homo-PP prices while they lifted up their PE prices by SAR113-150/ton ($30-40/ton) for April
Looking at the new offer levels, PP raffia and injection stands at SAR3563/ton ($950/ton), HDPE film and LLDPE film at SAR4238/ton ($1130/ton), HDPE blow moulding at SAR4350/ton ($1160/ton), HDPE injection at SAR4425/ton ($1180/ton) and LDPE film at SAR4350/ton ($1160/ton) on FD Jeddah, Saudi Arabia, cash basis.
Players are now waiting to hear offers from other local producers. A distributor operating in Jeddah commented, “We are expecting large price hikes based on the regional producers’ already firm offers given to Asian markets which they blame on the increasing upstream costs. Plus, local producers’ allocations were tight for March while overall demand has started to improve in line with the approaching high season for some PP and PE applications. These factors add to our expectations of large increases.”
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