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South African distributor receives Aug PE offers from Saudi major

by ChemOrbis Editorial Team -
  • 02/08/2016 (19:09)
A distributor operating in South Africa reported that they received August PE prices from a Saudi major.

According to his report, the Saudi major’s August PE offers are at $1280-1300/ton for LDPE film and at $1240-1260/ton for HDPE film and LLDPE film, all on a CFR Durban, South Africa, 90 days deferred payment basis.

The distributor said, “The market activity is slow due to the strike on the oil and petrol sector. Players are observing this situation to follow the impacts on the market. Meanwhile, high exchange rates are hampering the market activity and demand is quite slow. Import offers are reasonable, however players are not feeling safe to make any import purchases. We expect this slow market trend to persist until September.”
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