As SSESSMENTS.COM noted, a Saudi producer is facing inventory pressure on PP Block Copolymer, hence, offering to China market at an attractive level. This week, offers for PP Block Copolymer from one of the Saudi producers surfaced at only $10/ton higher than PP Homo Raffia offers, available at $930/ton. Compared to offers for PP Block Copolymer from the leading Saudi polyolefins producer, this producer’s offers are $90/ton lower. The leading polyolefins producer offers the same product at $1,120/ton this week, edged down by $10/ton from two weeks ago. All offers on LC at sight, CIF China main port basis.
As for other PP grades, offers for PP Homo Raffia from the leading Saudi polyolefins producer increased by $30/ton, while for PP Random Copolymer dipped down by $20/ton as compared to two weeks ago. Furthermore, import offers across all grades of PE from the producer are slightly increased by $10/ton as compared to last week. The source also informed SSESSMENTS.COM that September shipment offers for PP Homo Raffia from the leading Indian petrochemical producer is available at $910/ton on LC at sight, CIF China main port basis.
