Saudi producer steps back on initial March PP, PE to Egypt
According to players’ reports, the producer’s new prices indicate $20/ton decreases for PE and $50/ton decreases for PP from early March levels.
Price wise, offer levels stand at $1190/ton for LDPE, LLDPE and HDPE film, at $1220/ton for HDPE B/M, $1240/ton for HDPE injection, $1260/ton for HDPE pipe , $990/ton for PP film and fibre, $960/ton for raffia and injection, $1040-1060/ton for PPBC injection, $1140/ton for PPRC injection and at $1200/ton for PPRC pipe (type 3) on a CIF, 90 days basis.
A converter reported, “A major Saudi Arabian producer stepped back on their initial offer levels while the process of opening letters of credit at banks has become relatively easier. However, banks are still failing to fully cover the market’s foreign currency needs so we still have to turn to the black market to meet our needs. Regarding the next month, we anticipate the firming trend to continue.”
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