Saudi major reveals December PP, PE offers to local market

In Saudi Arabia, a major local producer announced its fresh December PP and PE offers to the market with rollovers to rangebound changes as compared to November price list, marking the second consecutive month of minor price changes amid weak derivative demand, as players put it.

Accordingly, the producer’s new PE offers indicate SAR37-38/ton ($10/ton) decreases for HDPE b/m and HDPE film, SAR37/ton ($10/ton) increases for LDPE film and rollovers for LLDPE film and HDPE inj grades from November. Meanwhile, new PPH offers indicate SAR26/ton ($10/ton) increases on a monthly comparison.

According to a local source, supplies from the producer are not very ample, especially LD film and LLDPE film yet, demand is muted, and players are barely placing inquiries which has been also the case during November. “The producer is trying to preserve PP prices against the re-export activities from subsidized local manufacturers hence kept them upbeat this month too,” he opined.

The new offers are as follows (all on FD Jeddah, cash excluding VAT basis):

HDPE film: SAR3975/ton ($1058/ton)

HDPE blow: SAR4163/ton ($1108/ton)

LDPE film: SAR4500/ton ($1198/ton)

HDPE inj.: SAR4050/ton ($1078/ton)

LLDPE film: SAR3975/ton ($1058/ton)

Homo-PP raffia and inj.: SAR3375/ton ($899/ton)