Slack activities dominate UAE’s polyolefin markets as March kicks off

Players in the United Arab Emirates had initially received March PP and PE offers from a Saudi major mostly with rollovers targets when compared to February levels. Shortly after; sporadic discounts on deals were reported as buyers’ resistance to high end levels, weak derivative demand given Ramadan lethargy and more competitive Omani origins have all weighed on the sentiment, as players put it.

The current offers are as follows (all on CIF Dubai, 90 days deferred payment basis):

HDPE film: $1010-1060/ton

HDPE blow molding and inj.: $1010-1060/ton

LDPE film: $1170-1180/ton

LLDPE film: $1010-1060/ton

Homo-PP raffia and inj.: $1020-1080/ton

Homo-PP film: $1050-1110/ton

On a related note, local PP also succumbed to weak derivatives and were assessed $10-30/ton lower from a month earlier at $1030-1040/ton for PPH raffia and inj., and $1070-1090/ton for PPBC, on a FD Dubai, cash basis.