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Saudi producer revises January PP,PE prices downward to Egypt

by ChemOrbis Editorial Team -
  • 15/01/2015 (15:22)
A film and injection products manufacturer operating in Egypt reported receiving prices from a major Saudi Arabian producer with downward revisions when compared with their initial January prices, which they had revealed with three digit decreases of up to $210/ton.

According to the buyer, they received LDPE film at $1340/ton, HDPE film at $1300/ton and LLDPE film at $1320/ton on CIF, 90 days deferred payment basis. These prices indicate $20/ton decreases for LDPE and HDPE film and they are $40/ton down for LLDPE film. Meanwhile, the converter received PP raffia and injection at $1300/ton with the same terms. These new levels indicate $50/ton decreases from the producer’s initial January prices.

“Despite the Saudi producer’s adjustments, we still find these levels very high. Given the market’s decrease expectations for February, we are not planning to make any fresh import purchases this month. Plus, we already hold high stock levels amidst weak end product demand,” added the buyer.
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