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Tanzanian buyer: Major Saudi producer cuts January PP,PE prices

by ChemOrbis Editorial Team - content@chemorbis.com
  • 08/01/2015 (11:48)
A converter operating in the United Republic of Tanzania reported that they received January PP prices with downward revisions and lower PE offers from a major Saudi Arabian producer. The buyer received homo-PP raffia and injection offers at $1250/ton on CFR, Dar es Salam United Republic of Tanzania, 90 days deferred payment basis. According to him, this level is down by $150/ton from the producer’s latest December offers and $70/ton down from their initial January prices. The buyer also received a January PP raffia price from another Saudi producer at the same level and with the same terms.

Meanwhile, the buyer received LDPE and LLDPE c4 film offers at $1420/ton from the same Saudi producer with the same terms. According to the buyer, this level is $80-100/ton lower when compared to the producer’s December levels.

“The Saudi producer’s January PP prices were revised down and we are expecting some downward adjustment for their PE offers as well since offer levels are still high for this polymer. Nowadays, players have just started to return to their desks and demand remains clam. Plus, it is the low season for PP applications. However, demand for PE applications is performing relatively better. Nevertheless, despite the decreases and downward adjustments, we are still planning to negotiate on the current offer levels and will continue to meet our urgent needs only because we are mostly covered until March. Our high season will start in April and we will consider purchasing in large volumes around March, but not before that date,” he added.
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