The price proposals of polyethylene (PE) in the markets of the Middle East countries went down this week amid low consumer activity, ICIS reported.

A regional trader said that one of the material manufacturers in the Middle East lowered its price offers for all PE brands with shipment in December by USD30-40 per ton, CFR South-East Asia (SEA).

Thus, the proposals for low-pressure polyethylene film (HDPE) amounted to USD1 140-1 150 per ton, CFR Southeast Asia, while proposals for linear film polyethylene (LDLP) brands were in the range USD1 030-1 040 per ton, CFR Southeast Asia, and price proposals for high-pressure polyethylene film (LDPE) were at USD1,040 per tonne, CFR Southeast Asia.

“Consumer activity is still very low, as market players expect manufacturers to dispose of their stocks of material by the end of the year,” said the trader.

Despite the fact that most of the suppliers voiced their price quotations, trading activity was sluggish due to weak interest in procurement from processors.

Some buyers prefer to rely on monthly contract volumes to cover their production needs, rather than buying spot volumes during the month.

According to the ICIS-MRC Price Review, last week prices continued to decline in several types of PEs in Russia. Purchasing activity on the market is low, there is no shortage of polyethylene supply on the market. In some segments, on the contrary, due to the seasonal factor there is an excess of supply.
Most consumers expect a further decrease in PE prices in December and, against this background, limit their purchases to current needs only. Producers of HDPE do not see reasons for price correction.