28 September 2012 12:55 [Source: ICIS news]
Correction: In the ICIS news story headlined "Mideast HDPE Black 100 Pipe spot prices rise as GCC announces hikes" dated 28 September, please read in the first paragraph ... Spot prices for high density polyethylene (HDPE) pipe ... instead of ... for high density polyethylene (HDPE) ... A corrected story follows.
SINGAPORE (ICIS)--Spot prices for high density polyethylene (HDPE) pipe in the Middle East rose on 27 September after producers based in the Gulf Cooperation Council (GCC) announced hikes in their offers for October shipments on Wednesday, market sources said.
According to market sources, offers for HDPE 100 Black compounded grade for October-loading parcels to the GCC region were higher by $50-60/tonne over last month, at $1,630-1,640/tonne (€1,255-1,263/tonne) DEL (delivered) GCC.
Offers to the Saudi Arabian domestic market were at $1,590/tonne DEL Saudi Arabia, an increase of $50/tonne over the offers for September, sources said.
In the East Mediterranean (East Med) region, offers for HDPE 100 Black compounded grade from GCC-based producers for October parcels were at $1,630-1,640/tonne DEL East Med.
These firmer offers were met with strong resistance from buyers who largely retreated to the sidelines in response to these high offer prices, sources added.
($1 = €0.77)
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