Sellers step back from initial Sept PP, PE offers in Lebanon, Tunisia
However, sellers had to step back from their initial offers in both countries to be able to improve their sales amid stagnant demand.
In Tunisia, players reported concluding €30/ton lower deals ($35/ton) for both PP and PE compared to the initial September offers from the Saudi major. Accordingly, PP deals are reported at €1000/ton ($1197/ton) for homo PP raffia and inj. and at €1090/ton ($1304/ton) for PPBC inj. grade while PE deals were reported at €1130/ton ($1352/ton) for LDPE film, €1020/ton ($1220/ton) for LLDPE film and HDPE injection, and at €1010-1020/ton ($1208-1220/ton) for HDPE film, all on CFR Tunisia, 90 days basis.
A source reported, “There is no supply issue in the market while overall market activity is slow. As sales dropped compared to the previous month, suppliers are more willing to negotiate their offers. The market sentiment for October appears to be firmer, yet muted demand might continue to put pressure on price ranges.”
Meanwhile, in Lebanon, a buyer reported obtaining $50/ton discounts in PP and PE deals compared to the initial September offers. Saudi PP was dealt at $1130/ton for homo PP raffia and inj., $1160/ton for PP film while PE deals were reported at $1240/ton for LDPE, $1140/ton for LLDPE and $1130/ton for HDPE film all on a CIF Beirut, 90 days deferred payment basis.
The buyer said, “End product demand is slow and therefore suppliers are ready to give discounts to the serious buyers. Regarding the upcoming period, we are confused amid the upstream volatility.”
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