Tunisian and S.African players report more Saudi PP, PE prices
A Tunisian trader offering on behalf of a Saudi producer commented, “The producer’s offers indicate €50/ton decreases from January while they hold adequate stocks for all products. Meanwhile, we see more and more buyers taking positions in the market as no further major decreases are expected for March. PP and PE prices might see some stabilization when China returns from the Chinese New Year holiday to make fresh purchases.”
The trader offers Saudi LDPE film at €1010/ton, LLDPE film at €900-1000/ton while PP raffia and injection are at €1020/ton on CIF Tunisia, 90 days deferred payment basis.
Meanwhile, a converter operating in South Africa reported that the same Saudi Arabian producer’s February HDPE film prices are $70/ton lower and their LLDPE film prices are down $140/ton at a single level of $1280/ton for both products on CFR Durban, South Africa, 90 days deferred payment basis.
“A Saudi Arabian producer lowered their February prices while the local producer Sasol is also delivering a sufficient amount of cargoes to the market. We see some improvement on demand compared to previous months. A slight recovery in upstream markets might result in some upward movement in prices for March,” added the buyer.
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