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Egyptian polyolefin markets assess impact of new import rules

The Central Bank of Egypt’s decision to reverse its rules requiring importers to get letters of credit (L/Cs) was welcomed by market players in a bid to improve supplies. However, players largely remained cautious amid a challenging macro-economic environment in Egypt...

Indian PP, PE markets remain bearish ahead of monsoon

Surplus import availability from China, as a result of Beijing’s stern restrictions to stem the spread of COVID-19, has been keeping Indian PP and PE markets bearish, which would likely continue at least for the next couple of months as the monsoon sets in...

Strong US dollar renders Asian PP, PE imports uncompetitive

The soaring dollar against global currencies has led to PP and PE imports getting uncompetitive against locally sold products across China, Southeast Asia and India as import costs rise, traders said...

PS sellers’ May hikes find partial acceptance in Europe

Rising costs encouraged European PS sellers to announce fresh hikes early in May. Having emerged €50-90/ton above April levels, PS prices hit fresh record highs but the upturn has lost speed. While smaller increases of around €50-60/ton have passed on deals so far, some sellers have started to report even rollovers in a few cases...