Kenyan PP, PE buyer: Retreating shilling weighs down on trade
by ChemOrbis Editorial Team - content@chemorbis.com
A plastic end product manufacturer operating in Nairobi, Kenya, reported that they received new July prices from two different Saudi Arabian producers.
“One of these producers’ offers are more competitive than the other producer’s , who appears adamant to achieve their initial levels. However, overall demand is slowing down in the country in line with the decreasing prices. We anticipate further decreases in the days ahead and into August. Meanwhile, the local Kenyan currency, the shilling, has been losing significant ground against the US dollar and this situation is also weighing down trading activities in the market,” he stated.
The buyer received July HDPE film and LLDPE film prices at $1450/ton, LDPE film at $1460/ton, HDPE blow moulding at $1490/ton and PP raffia and injection at $1350/ton on a CFR Mombasa, Kenya, 90 days deferred payment basis.
“One of these producers’ offers are more competitive than the other producer’s , who appears adamant to achieve their initial levels. However, overall demand is slowing down in the country in line with the decreasing prices. We anticipate further decreases in the days ahead and into August. Meanwhile, the local Kenyan currency, the shilling, has been losing significant ground against the US dollar and this situation is also weighing down trading activities in the market,” he stated.
The buyer received July HDPE film and LLDPE film prices at $1450/ton, LDPE film at $1460/ton, HDPE blow moulding at $1490/ton and PP raffia and injection at $1350/ton on a CFR Mombasa, Kenya, 90 days deferred payment basis.
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