Saudi producers announce Oct PP, PE offers to local market

According to players in Saudi Arabia, a Saudi major has announced its new October PP and PE offers to the local market with increases from September following 5 consecutive months of stable to softer trend in the local market.

According to a trader’s report, the producer issued increases of SAR150/ton ($40/ton) for homo PP and SAR112/ton ($30/ton) for LDPE, LLDPE film and HDPE film. Other HDPE grades posted larger increases of SAR338/ton ($90/ton) for b/m and SAR262/ton ($70/ton) for injection compared to their latest September levels. LLDPE c4 inj. prices also posted SAR150/ton increases from last month.

The major’s PE offers are standing at SAR4425/ton ($1180/ton) for HDPE film and LLDPE c4 film, at SAR4800/ton ($1280/ton) for LDPE film, at SAR4688/ton ($1250/ton) for LLDPE c4 inj., at SAR4538/ton ($1210/ton) for HDPE b/m and at SAR4500/ton ($1200/ton) for HDPE inj. while the producer’s PP offers are reported at SAR4275/ton ($1140/ton) for PP raffia and inj. and at SAR4950/ton ($1320/ton) for PPBC inj., all on an FD Jeddah, Saudi Arabia, cash basis.

Given the global firming trend, players were expecting to see some increases for October whereas they are now in a waiting stance until the rest of the local producers reveal their new offers, which are expected to follow a stable to firmer trend.

After the Saudi major, a distributor reported receiving new October offers from a different Saudi producer with rollovers to slight increases. The producer’s PP offers indicate increases of around SAR75/ton ($20/ton) while its PE offers are mostly unchanged compared to September.

The producer’s PP prices stand at SAR4200/ton ($1120/ton) for PP raffia and inj. and SAR4388/ton ($1170/ton) for fibre while October PE offers are reported at SAR4388/ton for HDPE b/m, SAR4350/ton ($1160/ton) for HDPE film and SAR4725/ton ($1260/ton) for LDPE film, all on FD, Jeddah, Saudi Arabia, cash.