Saudi producer lifts November HDPE prices to Morocco
“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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