Tunisian buyer: Mid-Eastern PP, PE prices surface, Europeans awaited
by ChemOrbis Editorial Team - content@chemorbis.com
A converter operating in Tunisia reported that they received new August prices from a major Saudi Arabian producer with three digit decreases for PP and PE.
The buyer received €110/ton decreases for HDPE injection at €1400/ton and €160-180/ton decreases for PPBC injection at €1300-1320/ton on a CIF Tunisia, 90 days deferred payment basis from a Saudi producer. Apart from these offers, the buyer also received PPBC injection offers from different Middle Eastern producers at €1380/ton and at $1360/ton with the same terms.
“Overall demand is improving following the decreases while supply levels are very comfortable from Middle Eastern suppliers. At the moment, we are waiting to hear European producers’ new August levels. On a different note, the Tunisian dinar continues to lose ground against the US dollar and this situation continues to hinder our sales in the end product markets. Regarding September, further decrease expectations have already surfaced and therefore, buyers continue to purchase on their needs basis,” he added.
The buyer received €110/ton decreases for HDPE injection at €1400/ton and €160-180/ton decreases for PPBC injection at €1300-1320/ton on a CIF Tunisia, 90 days deferred payment basis from a Saudi producer. Apart from these offers, the buyer also received PPBC injection offers from different Middle Eastern producers at €1380/ton and at $1360/ton with the same terms.
“Overall demand is improving following the decreases while supply levels are very comfortable from Middle Eastern suppliers. At the moment, we are waiting to hear European producers’ new August levels. On a different note, the Tunisian dinar continues to lose ground against the US dollar and this situation continues to hinder our sales in the end product markets. Regarding September, further decrease expectations have already surfaced and therefore, buyers continue to purchase on their needs basis,” he added.
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