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Kenyan buyer receives $200/ton reduction on Aug PP

by ChemOrbis Editorial Team -
  • 11/08/2015 (17:28)
A plastic end product manufacturer reported receiving August offers for homo-PP from a major Middle Eastern producer. The buyer reported this month’s offers at $1250/ton for raffia and injection grades based on CIF Mombasa, 90 days deferred payment. The buyer had last reported July offers from the same producer at $1450/ton with the same terms.

The buyer commented, “Despite the recent declines, we are not planning on making any purchases yet. We expect prices to record further reductions and we believe many other buyers are also sidelined for now and delaying purchases. On top of this, demand is slow in Kenya. The market is being affected by the appreciating US dollar against our local currency plus an unstable political situation. Players will be hesitant to purchase and will want to see the done deal level first.”
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