South African player receives January PE prices
The trader received Saudi HDPE film at $1350/ton, LLDPE film at $1420/ton and LDPE film at $1460/ton on a CFR South Africa, 90 days deferred payment basis. According to him, the new prices indicate $170-220/ton decreases from the producer’s December levels. These January levels also represent around $120-230/ton decreases when compared with the overall Middle Eastern range reported in December.
Meanwhile, the trader also received Sasol’s offers for LDPE film at ZAR17800/ton ($1324/ton without VAT), LLDPE film at ZAR19050/ton ($1416/ton without VAT) and HDPE film at ZAR19500/ton ($1450/ton without VAT) on an FD Johannesburg, South Africa, 45 days deferred payment basis including 14% VAT.
The trader remarked, “Sasol’s decrease amount comes around $80/ton while overall supply levels appear to be adequate for all PE products. Meanwhile, the large gap between the Saudi producer’s HDPE and LLDPE film prices can be attributed to their rather limited LLDPE film supplies compared with their HDPE film supplies. Nowadays, players are slowly returning to their desks, although not many of them have fully resumed their operations yet. Therefore, buying interest remains sluggish. On another note, softer price expectations prevail for February, but prices are expected to rebound as of March."
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