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Initial June offers surface with rollovers in Kenya, Algeria and Libya

by ChemOrbis Editorial Team -
  • 31/05/2017 (22:10)
In Kenya, Algeria and Libya, PP and PE players have started to received new June offers with rollovers from May in line with market expectations as buying interest is dampened by Ramadan lull in some parts of the region while political instability is another factor weighing down on demand, especially in North Africa.

In Kenya, players received new June PE and PP offers from an Emirati producer on a steady note from May at $1160/ton for HDPE film, at $1150-1160/ton for homo PP raffia and inj., at $1200-1220/ton for PPBC inj., all on CIF Mombasa, Kenya, 90 days deferred payment basis.

In addition, a trader also received Asian homo PP raffia offers at $1140/ton with the same terms, which formed the low end of the range for this grade.

“We are still waiting for major Middle Eastern suppliers to reveal their new prices for June, expecting a downward trend to dominate the new announcements. Market activities were slow and demand is poor in the midst of the upcoming elections,” said trader.

Similarly, in Algeria and Libya, a Saudi major rolled over its June PP and PE offers compared to May. The major’s new offers to Algeria are standing at $1260-1280/ton for PP raffia and inj., at $1390-1400/ton for LDPE film, at $1330-1350/ton for LLDPE c4 film and at $1300-1320/ton for HDPE film, on CIF Algeria, 90 days.

In Libya, the producer’s new June prices are reported at $1450-1470/ton for LDPE film, at $1420-1440/ton for LLDPE film, at $1350-1370/ton for HDPE film and at $1300-1320/ton for PP raffia and inj., all on CIF Tripoli, 90 days.
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