28 August 2013 15:59 [Source: ICIS news]
SINGAPORE (ICIS)--Middle East producers may delay releasing polyethylene (PE) and polypropylene (PP) offers for September in anticipation of a military intervention in Syria, industry sources said on Wednesday.
“We are watching Syria very closely in the next 48 hours. If there is an intervention, we won’t offer cargoes yet this week,” a Gulf Cooperation Council (GCC)-based producer said.
A Dubai-based trader said Middle East producers are “taking advantage” of the Syrian unrest to hike up PE and PP prices.
“They will use any opportunity to raise offers,” the same trader added.
PE and PP offers to the Middle East are typically released from the 25th-30th of each month.
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