East African PP, PE players voice divergent demand views for Sept
A converter operating in Kenya reported making some fresh purchases after receiving lower offers for September. “Demand in general remains weak and overall availability is sufficient. The depreciation of the Kenyan shilling against the US dollar is still casting a shadow over purchases. We believe that further decreases are available for firm bids,” he added.
A trader giving offers both to Kenya and to the United Republic of Tanzania reported $100-130/ton decreases for September PP and PE prices from the Middle East. The trader commented, “A major Saudi Arabian producer’s HDPE injection availability is tight and therefore, their prices are a bit high. Yet, this particular producer has already adjusted their September prices downward several times this month as buyers continue to show resistance towards their prices. However, for now, they seem adamant on their offer levels and they refuse to accept any lower bids even in return for deals. Plus, the producer is said to be experiencing some delays on their deliveries and therefore, buyers do not have the option to postpone their purchases as it would cause further delays. Meanwhile, we think demand is a bit better these days.”
A raffia and injection products manufacturer in Tanzania said, “Prices recorded decreases for September and we believe that they still have room to fall. However, we purchased some cargoes as we have end product orders to meet. We see good end product demand and overall PP and PE supplies appear comfortable in Kenya.”
Looking at prices given in East Africa; HDPE film stands at $1230-1280/ton, HDPE b/m at $1250-1280/ton, HDPE injection at $1280-1350/ton, LLDPE c4 film and LDPE film at $1280/ton, PP raffia and injection at $1080-1100/ton, PPBC injection at $1170/ton and PPRC injection at $1280/ton, all on a CIF Mombasa, Kenya 90 days basis or CIF Dar es Salam, United Republic of Tanzania, 90 days basis.
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