Kenyan and Tanzanian players receive April PP, PE prices
A plastic end product manufacturer operating in Nairobi, Kenta, commented, “We received April prices from two different Middle Eastern producers with increases from March.”
According to the buyer’s report, a major Saudi Arabian producer’s prices are $200/ton higher for PP block copolymer injection, $90/ton higher for PP raffia and injection and $80/ton higher for HDPE and LLDPE film. The producer’s new prices stand at $1290/ton for PP raffia and injection, $1400/ton for PP block copolymer injection, $1320/ton for HDPE film and at $1330/ton for LLDPE film on a CIF, Mombasa, Kenya, 90 days deferred payment basis. Meanwhile, the buyer received PP raffia and injection offers from a different Middle Eastern producer at more competitive levels of $1260/ton with the same terms.
“Middle Eastern producers elected to issue increases in line with the global trend and their tight supplies. Kenyan ports are still experiencing congestion problems as cargoes at the ports are waiting to be cleared. On another note, a Middle Eastern producer is not offering any LLDPE to the market for April as they have severely short supplies for LLDPE and PP. We are now waiting to hear the rest of the regional producers’ prices. After that, we will purchase some quotas since our April stocks are very low,” he added.
In the United Republic of Tanzania, a buyer reported that they are still waiting to hear new prices from a major Saudi Arabian producer along with other regular regional producers. At the moment, the buyer received some irregular Middle Eastern PP raffia and injection offers at $1430/ton and some South Korean raffia and injection offers at rather more competitive levels of $1400/ton on a CFR, Dar es Salam, United Republic of Tanzania, 90 days deferred payment basis.
“Overall supplies are expected to be short by the end of April as most Middle Eastern producers have stopped their shipments for March,” he added.
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