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Saudi producer issues November PP, PE prices to Egypt

by ChemOrbis Editorial Team - content@chemorbis.com
  • 03/11/2015 (16:32)
In Egypt, players report receiving more PP and PE prices from the Middle East for November. According to players’ reports, a Saudi producer followed divergent pricing policies for PE while they issued decreases on PP.

The producer’s new prices indicate rollovers for HDPE film at $1250/ton and represent $30/ton increases for LDPE and LLDPE film at $1180/ton on CIF Alexandria, 90 days basis. Meanwhile, the producer cut their homo-PP raffia and injection offers by $50/ton to $1150/ton with the same terms.

A trader commented, “The producer’s LDPE and LLDPE film offers are very competitive with respect to the offers given by other Middle Eastern producers. However, overall demand remains slow in Egypt on the back of the unstable US dollar exchange rates. Meanwhile, in the local market, tight supply issues persist and players are struggling with liquidity issues.”

Meanwhile, an end product manufacturer reported, “We received the new prices from this Saudi producer and we are mulling over making some purchases. However, we cannot be sure of the future market trend and therefore, we are still being cautious on our purchase amounts.”
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