Saudi producer issues November PP, PE prices to Egypt
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.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- European players question if bottom is near for PE
- Asian ABS players turn cautious after recent rally
- July PVC dealt lower in Europe, what lies ahead for August?
- China’s Jan-May total polymer imports hit a record of nearly two decades
- India’s local PVC market soars to 6-month high after customs hike
- China’s export PET market faces correction after rising 10% from two-year-low
- Spot propylene moves in opposite directions in Asia and Europe
- European PS hits year-to-date low on July drops
- Turkey’s PP market on par with China, LLDPE and HDPE trade at discount
- Bearish trend persists in July for PP, PE in Mid-East, Africa