Saudi producers announce March PP, PE offers to the local market
A Saudi major revealed March offers with increases of SAR187/ton ($50/ton) for HDPE film, SAR225/ton ($60/ton) for LLDPE c4 film and SAR187/ton ($50/ton) for PP raffia and injection. However, the supplier kept its LDPE film prices steady at February levels as this product had already seen the largest hikes among the other PE products in February.
A different producer, meanwhile, announced their March PE, PP prices with relatively modest increases. The producer’s new levels indicate increases of SAR149/ton ($40/ton) for PP raffia and injection, SAR113/ton ($30) for LLDPE c4 film, SAR206/ton ($55/ton) for HDPE film and injection and SAR187/ton ($50/ton) for HDPE b/m.
Supply constraints for PP and PE are expected to persist in the medium term with two domestic producers’ planned maintenance shutdowns at their PP plants, although one of the producers was not available for comment at the time of publication.
Looking at the production outages in the region, market sources report that Natpet and Al Waha will be having maintenance shutdowns at their PP plants in the March-April period while PP supplies out of Borouge are expected to be suspended for up to 6 months as a result of the incident at ADNOC refinery in mid- January.
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