Algerian players: May PP and LLDPE supplies tight
Prices stand at $1140-1150/ton for PP raffia and injection, at $1250/ton for PPBC injection, $1350/ton for PPRC injection, $1320-1380/ton for HDPE film, $1350/ton for LDPE film, $1330/ton for LLDPE film and at $1380-1390/ton for LLDPE injection on a CIF Algiers, Algeria, 90 days deferred payment basis.
A distributor who obtained new May levels commented, “Overall prices indicate increases on a month over month basis on the back of very limited availability from Middle Eastern producers. Supplies are especially problematic for PP and LLDPE. Therefore, producers offer at high levels and are not willing to give longer payment facilities. However, demand is slow and Asian markets appear to be slowing down, especially for PP. Therefore, we expect stable to slightly lower offer levels for June and are postponing our purchases. On another note, the Algerian economy is not performing well and the next year is expected to be even worse. Since we would not be able to bear any losses in such an economic environment, we are being extra careful about our purchases.”
A trader confirmed that May PP and PE prices recorded up to $70/ton increases and commented, “These increase amounts are larger than what the Algerian market can absorb. Although supplies are limited, market players do not feel under pressure to find sufficient cargoes to carry on with their production since overall demand is very thin.”
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