July PP, PE offers start to emerge in North Africa

In Morocco, a major Saudi supplier revealed their new July offers with rollovers and €50/ton reductions for PE grades, while their PP offers were lower by as much as €150/ton from last month.

The latest offers were at €1570-1620/ton ($1610-1661/ton) for LDPE, €1410-1420/ton ($1446-1456/ton) for LLDPE, €1550-1560/ton ($1590-1600/ton) for HDPE film, €1620-1630/ton ($1661-1672/ton) for HDPE b/m, €1600-1620/ton ($1641-1661/ton) for HDPE inj., €1450-1480/ton ($1487-1518/ton) for PPBC, €1530-1540/ton ($1570-1582/ton) for PPRC, €1380-1390/ton ($1415-1426/ton) for raffia and inj., €1420-1430/ton ($1456-1466/ton) for fibre and film all on CIF Casablanca.

Buyers are trying to obtain lower done deals as they believe prices still have a room for further reductions, players said. “Seller previously adjusted down their offers in June, hence a similar trend is possible for July,” a seller based in Casablanca said.

In Tunisia, July offers surfaced with €30-50/ton decreases for the PE and up to €100/ton decreases for PP.

Tunisian markets were assessed at €1630-1680/ton ($1672-1723/ton) for LDPE, €1450-1470/ton ($1487-1508/ton) for LLDPE, €1440-1460/ton ($1477-1498/ton) for HDPE film, €1470-1500/ton ($1508-1538/ton) for HDPE b/m, €1440-1450/ton ($1477-1487/ton) for PP raffia and inj., €1480-1490/ton ($1518-1528/ton) for PP film and €1590-1630/ton ($1631-1672/ton) for PPRC, all on CFR Tunisia basis.

In Algeria, buyers are still waiting to receive new price announcements for July. “Buyers are reluctant about making any new purchases as the market has been off due to the celebration of the Independence Day. In addition to this, the Eid holiday is just around the corner,” a trader commented. Algerian players also noted that trading activity has been stumbling for some time, given the recent rules and procedures implemented by the government for importing goods.