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African players anticipate softer polymer outlook for December

by ChemOrbis Editorial Team - content@chemorbis.com
  • 19/11/2014 (15:15)
A film products converter operating in Kenya, West Africa, reported that they have not made any fresh purchases for November so far. “We hold sufficient stock levels to work with and we anticipate further decreases over the near term. Therefore, we opt to postpone our purchases. Overall demand is weak and the ongoing cash flow issues continue to hinder the buying interest further. Plus, supply levels are comfortable in the market so buyers are not in a rush to obtain cargoes. At the moment, we run our plant at 70% capacity as our end product business is not satisfying at all. When considering the declining crude oil prices and the weak market conditions ahead of the year end, we anticipate a softer December outlook.”

A PE products converter operating in Algeria in North Africa commented, “We usually meet our needs from a major Saudi Arabian producer. However, for this month, we find their prices too high to purchase and we turned to other Middle Eastern producers, whom we find their prices more competitive. At the moment, the Algerian market is performing slowly and supplies are not an issue at all. Traders mostly anticipate further decreases in the days ahead and in order to avoid larger decreases, they prefer to destock their cargoes now. We, too, expect further decreases in December in line with the globally decreasing trend. Plus, upstream markets are tracking a downward trend, and are pulling down the polymer prices.”
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