Saudi suppliers reveal September PP, PE offers to N. Africa
A converter operating in Tunisia reported receiving new PE prices from a major Saudi producer with rollovers to €20/ton decreases over August at €1120/ton for PP inj. raffia, €1030/ton for LLDPE c4 film, €1050/ton for LDPE film, and at €1160/ton for HDPE film on CIF Tunisia, 90 days deferred payment basis.
“Demand is very limited and our purchases have been hindered by the unfavorable foreign exchange rates. We believe that lower deals are achievable," noted the converter.
A trader operating in Morocco reported receiving €10-40/ton discounts from another Saudi producer. The producer’s latest offers now stand at €1110/ton for PP inj. and raffia, €1125/ton for PP fibre, €1040/ton for LDPE film, €1110/ton for HDPE film and b/m, and €1300/ton for HDPE pipe (100) black, all on a CIF Casablanca, Morocco, 90 days basis.
As for Algeria, the Saudi major announced its new offers for September with rollovers from its initial August levels at $1350/ton for PP raffia and inj., $1390/ton for PP film, $1520/ton for PPBC inj., $1200/ton for LLDPE c4 film, $1290/ton for LDPE film, and $1330/ton for HDPE film, all on a CIF Algeria, 90 days basis.
Meanwhile, a trader operating in Algeria reported that two different Saudi producers announced new PPRC and PPBC inj., and LDPE film offers respectively at $1400/ton, $1390/ton, and $1280/ton on CIF Algeria, 90 days.
The trader also reported receiving LDPE film offers from a Middle Eastern supplier at $1260/ton and reported adequate supplies in the market. “Demand has started improve after the Eid holiday; however, the overall buying interest remains disappointing," added the trader.
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