Africa sees steady to softer import PP, PE prices for Sept
A major Saudi Arabian producer applied rollovers on its new September PE and PP offers to South Africa, Algeria and Tunisia while the producer announced its offers to Kenya with rollovers to slight decreases of $10-20/ton from August levels.
A converter in Tunisia reported that the major producer announced its September PP and PE offers at stable levels from August, meanwhile. He mentioned, “Activity has further slowed due to the upcoming Eid holidays. Demand is still weak amidst the ongoing liquidity issues. Prices are still high while we are waiting for offers from other producers before making any purchases as they might be more competitive.”
In Algeria, another converter who also received rollovers from the Saudi producer, said, “The producer is making its deliveries late. Although supplies are not ample in the market nowadays, prices followed a stable path as demand is slow. Buying interest is very thin and players are currently reluctant to make fresh purchases and the exchange rates are high. We are expecting the market to stay at the same levels this month due to the holidays. We are planning to make some purchases, but we will try to conclude deals at lower offers with another supplier in order to avoid the late deliveries.”
In Kenya, a manufacturer received new offers from the Saudi major. The producer rolled over its HDPE blow moulding, LDPE film and LLDPE c4 film offers while issuing a decrease of $20/ton on HDPE film prices and $10/ton on PP raffia and injection offers. “Although demand usually picks up in August and September; this year it is sluggish given the bad economic situation and tight liquidity.”
A trader stated, “Due to the high exchange rate, there is a gap between local and import offers. Buyers prefer to meet their needs from the local market while players in the import market are struggling to keep their business due to hampered market activities.”
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