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June expectations surface for PP, PE in Africa

  • 18/05/2016 (03:50)
African players mostly reported higher prices for May in the PP and PE markets on the back of tight supplies. However, it was a widely heard complaint among regional buyers about the size of increases sought for May with some expecting a revision. As for next month, initial expectations are now being voiced on a stable to soft note in the midst of slowing demand and global conditions.

“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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