Saudi producers announce Feb PP, PE offers to local market
Two major local producers rolled over their PP offers at their January levels while implementing increases between SAR150-375/ton ($40-100/ton) on their February PE offers from January.
The producers’ new offers are reported at SAR4294-4313/ton ($1145-1150/ton) for HDPE film, SAR4875/ton ($1300/ton) for LDPE film, SAR4350/ton ($1160/ton) for LLDPE film c4, and at SAR3863/ton ($1030/ton) for PP raffia and inj, all on an FD Jeddah, Saudi Arabia, cash basis.
“Supplies are not ample in the market due to maintenance shutdowns in the region; however demand remains slow towards our end product and the overall market activity is very slow. If demand starts to pick up in the upcoming period, the major producer may adjust their PP prices up given their tight allocations,” commented a converter.
A trader receiving the new offers also said that the market outlook is not clear yet and they are observing the market trend cautiously to see the effect of the shutdowns on the state of supplies.
Meanwhile, another local producer announced their PP prices $30-50/ton higher from January at SAR3912/ton ($1043/ton) for raffia and inj. with the same terms.
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