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Kenyan converter receives January Saudi PE prices

by ChemOrbis Editorial Team - content@chemorbis.com
  • 02/01/2015 (14:46)
In Kenya, a film products manufacturer reported receiving new January HDPE offers from a major Saudi Arabian producer. The converter reported that the producer’s new offer levels indicate decreases of $180/ton when compared with their latest December offer levels. The new offer levels stand at $1340/ton for HDPE film and at $1350/ton for HDPE blow moulding on CFR Mombasa, Kenya, 90 days deferred payment basis.

“The producer’s initial decrease amount is $180/ton when compared with their latest December prices. However, we anticipate further declines when it comes to concluding deals. The Kenyan market is not performing well at the moment given the year-end holidays for Christmas and the New Year. Overall buying interest is slow and there is not much liquidity in the market. We believe that prices still have room to go down. At the moment, most players are waiting to hear other Middle Eastern producers’ offers."
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