Kenyan players: Import May PP, PE prices emerge higher
A plastic end product manufacturer reported receiving $10-50/ton hikes on May PE prices and $70/ton hikes on PP prices from their Middle Eastern suppliers. “The producers’ new May levels indicate increases from April while availability appears sufficient. However, one particular Saudi producer has been limiting their quotas to the Kenyan market, and we expect to hear even larger increases from them when they return to the market for May. However, for June and July, we anticipate mostly a steady trend before prices start to soften,” he added.
Another converter reported receiving $10-30/ton PE hikes and $70/ton PP hikes from a major Saudi Arabian producer for May. The converter stated, “We were already expecting these increases since supplies were generally limited during last month. Although overall availability appears to have improved and demand is still slow, our Saudi supplier is standing firm regarding their offer levels.”
A different converter claimed to receive around $60-80/ton PP hikes and steady to $20/ton firmer PE levels from a major Saudi Arabian producer when compared with the latest offers they received in April. “It is the rainy season and therefore, overall demand is not strong. Meanwhile, supplies are sufficient,” he highlighted.
A film products manufacturer complained, “We see very weak demand for our end products while overall supplies appear sufficient for May. Meanwhile, the rainy season is causing demand to retreat further.”
A different player, confirming firmer May prices from Middle Eastern producers, added that they are expecting their supplier to be able to revise their initial levels downward. “We are seeing very thin demand, so these increases are not acceptable at all,” he underlined.
Import prices for PP raffia and injection stand at $1100-1140/ton, PP fibre at $1140/ton, PP film at $1140-1150/ton, LDPE film at $1280-1300/ton, LLDPE film at $1250-1300/ton, HDPE film at $1290-1300/ton and HDPE blow moulding is at $1300-1330/ton on a CFR Mombasa, Kenya, 90 days deferred payment basis.
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