Saudi producer issues March PP, PE prices to UAE and Jordan
A trader in United Arab Emirates said, “We received around $30/ton increases for both PP and PE from a Saudi major. Given the rather competitive increase amount, players are rushing to secure some cargoes from the producer. Regarding the near term, expectations remain firm on the back of more or less stabilizing crude oil prices and improving demand. Considering these factors, we expect a better market for the upcoming period.”
The trader received LLDPE c4 film at $1190/ton, HDPE film at $1300/ton, LDPE film $1210/ton and PP raffia and injection at $1140/ton on CIF Dubai, 90 days.
Meanwhile, in Jordan, a film products manufacturer operating in Amman reported that they obtained new March LLDPE c4 and HDPE film prices from a major Saudi Arabian producer at a single level of $1180/ton on CIP Amman, 90 days basis. According to him, the producer’s new LLDPE film prices indicate $50-60/ton increases and HDPE film prices represent $70/ton hikes from initial February levels.
“We see very good demand regarding our end products, but we are struggling to find materials in the market. Tight supplies and stabilizing crude oil prices are amongst the main reasons behind the increasing trend,” he added.
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