Trader: South African, Saudi producers reveal June prices
According to him, Safripol raised their HDPE film prices by ZAR706/ton ($58/ton) to ZAR18356/ton ($1314/ton) on an FD Johannesburg, South Africa, 45 days deferred payment basis. Meanwhile, Sasol lifted their LDPE film prices by ZAR674/ton ($55/ton) to ZAR17524/ton ($1254/ton) and their LLDPE c4 film prices by ZAR686/ton ($56/ton) to ZAR17836/ton ($1277/ton) with the same terms.
Meanwhile, the trader, offering on behalf of a major Saudi Arabian producer, announced their June prices at $1550/ton for HDPE and LLDPE film, with both prices indicating $30/ton hikes from May levels on a CIF Durban, South Africa, 90 days deferred payment basis.
“Sasol, who usually announces their prices a month ahead, lifted their July offers by around 4%. Meanwhile, Sasol is also reportedly postponing their annual maintenance shutdown from September to November in order to be able to build up stocks since the producer is currently supplying only 60% of the cargoes they normally supply to the market. Regarding import offers, a major Saudi producer appears to have a relatively better amount of quotas but their LLDPE and HDPE film supplies still seem to be restricted,” he added.
According to the trader, overall demand has given some signs of improvement, but he thinks that this is only artificial and stems from generally limited supplies. “We lack a clear view for July,” he added.
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