With Saudi-led Gulf Cooperation Council (GCC) members restoring relations with Qatar, polyethylene (PE) and polypropylene (PP) processors in Saudi Arabia can now supply products to the Qatari market.
Saudi PE and PP producers are thus hopeful of improved resin uptake following the historic event that brings optimism to the processing community in Saudi Arabia, the latter being a major processing hub in the Middle East.Asia can also expect better and stable supply from the GCC region following the deal.
The GCC countries are typical import origins for polyolefins flowing into Asia, particularly into the Chinese market, said ICIS senior analyst Amy Yu.
The US has been instrumental in brokering the diplomatic deal and ending the Middle East crisis.
