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Saudi producer lifts November HDPE prices to Morocco

by ChemOrbis Editorial Team -
  • 12/11/2014 (15:33)
In Morocco, a trader reported receiving new November HDPE film, blow moulding and injection offers with increases of €10/ton from a major Saudi Arabian producer. The trader attributed the producer’s higher prices to the fact that Moroccan prices are already softer than prices to other North African countries and that prices in Morocco need to rise a bit to match the trend in the rest of the region. The trader received offers at €1240/ton for HDPE film and €1250/ton for HDPE blow moulding and injection on a CIF Casablanca, Morocco, 90 days basis.

“The rest of the offers from the Saudi producer mostly indicate rollovers. Offer levels in Morocco have been considered low since September and this situation may have pushed the producer to issue rollovers to slight increases on their prices. Meanwhile, supply wise, LDPE film and HDPE blow moulding cargoes are limited in the market. Only a few Middle Eastern producers announced prices to Morocco for November. Most of the Middle Eastern producers, taking the weak conditions in Morocco into consideration, prefer other markets where they can achieve higher netbacks, such as Algeria,” he commented. The trader also highlighted payment issues in the distribution market as another reason why some sellers are less willing to sell to Morocco.
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