Import PP, PE offers from Mid-East surface in Kenya, Tanzania for Nov
A Saudi major approached the both markets with mainly rollovers to some decreases compared to the latest October levels, defying the major’s pricing policy in Egypt.
Accordingly, the major’s November prices stand at $1190-1220/ton for PP raffia and inj., $1290/ton for PPBC inj., $1320/ton for LDPE film, $1190/ton for HDPE film and HDPE b/m and at $1230/ton for LLDPE film, all on CFR Mombasa, Kenya, 90 days basis and on CFR Dar es Salam, United Republic of Tanzania, 90 days basis.
A buyer based in Kenya said, “We received new November offers for LLDPE and HDPE film grades $40/ton lower from October levels. Demand is generally poor in the market while supplies are comfortable. Plus, the ban of plastics bags is affecting the market to a large extent.”
A different Saudi producer revealed its LDPE film prices at $1320/ton to both markets with the same terms.
A Qatari producer’s November offers, meanwhile, remained at $1320/ton for LDPE film and at $1240/ton for LLDPE film.
A distributor from Kenya reported, “Middle Eastern suppliers’ new offers for November shipments are more or less steady amid ample supplies. Demand is thin especially for HDPE film as many converters had to shut their plants due to the ban of plastic bags. Moreover, the Kenyan government faced many demonstrations after the re-elections that took place during the last week of October. Players are pushing for lower deals given current market conditions.”
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