June expectations surface for PP, PE in Africa
“We expect this upturn to lose speed now as the market will not be able to digest further hikes,” said a few buyers in Kenya. The rainy season is also expected to weigh down on demand in the region.
A buyer in Tanzania also drew attention to the softening prices in China, arguing that this will not support further increases in African markets.
A similar situation is in place in North African countries as a trader in Algeria said, “Considering the state of demand, we postponed our purchases to June, when rollovers or slight discounts are deemed possible.”
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