June PP, PE offers announced in Lebanon, Jordan
by ChemOrbis Editorial Team - content@chemorbis.com
Players in Lebanon and Jordan received initial PP and PE offers for June from the Middle Eastern producers with rollovers to decreases from last month.
In Lebanon, a major Saudi producer’s new PP raffia and injection offers declined significantly by $120-130/ton when compared to its initial prices in May. The producer’s new PE offers also saw decreases ranging between $10/ton to $50/ton from last month.
The Saudi major’s latest offers stand at $1080/ton for LDPE film, $1050/ton for LLDPE c4 film, $1140/ton for HDPE film and $1150-1160/ton for PP raffia and inj., all on CIF Beirut, 90 days.
A trader reported that the weakness in demand has extended and added, "End sales are poor and stock levels are high. Buyers are refraining from purchasing extra volumes as they expect even lower prices by next month amid weaker upstream costs.”
In Jordan, players received stable prices from the Saudi major while another Saudi producer formed the low end of the overall price ranges with relatively competitive prices for June.
The latest prices from the major Saudi producer were at $1040/ton for LLDPE c4 film, $1140/ton for HDPE film, $1080/ton for LDPE film, and $1180/ton for PP raffia and inj., while the other Saudi producer’s new offers stood at $980/ton for LLDPE c4 film and LDPE film, and $1120/ton for HDPE film, all on CIP Amman, 90 days basis.
A source who received the abovementioned prices agreed that demand has remained weak after the holidays and cited tight cash flows and poor end product sales as main drivers behind the sluggish buying sentiment.
In Lebanon, a major Saudi producer’s new PP raffia and injection offers declined significantly by $120-130/ton when compared to its initial prices in May. The producer’s new PE offers also saw decreases ranging between $10/ton to $50/ton from last month.
The Saudi major’s latest offers stand at $1080/ton for LDPE film, $1050/ton for LLDPE c4 film, $1140/ton for HDPE film and $1150-1160/ton for PP raffia and inj., all on CIF Beirut, 90 days.
A trader reported that the weakness in demand has extended and added, "End sales are poor and stock levels are high. Buyers are refraining from purchasing extra volumes as they expect even lower prices by next month amid weaker upstream costs.”
In Jordan, players received stable prices from the Saudi major while another Saudi producer formed the low end of the overall price ranges with relatively competitive prices for June.
The latest prices from the major Saudi producer were at $1040/ton for LLDPE c4 film, $1140/ton for HDPE film, $1080/ton for LDPE film, and $1180/ton for PP raffia and inj., while the other Saudi producer’s new offers stood at $980/ton for LLDPE c4 film and LDPE film, and $1120/ton for HDPE film, all on CIP Amman, 90 days basis.
A source who received the abovementioned prices agreed that demand has remained weak after the holidays and cited tight cash flows and poor end product sales as main drivers behind the sluggish buying sentiment.
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