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Kenyan players anticipate further hikes for May

by ChemOrbis Editorial Team -
  • 21/04/2015 (16:56)
A film products converter operating in Kenya reported concluding some PE and PP deals for a major Saudi Arabian producer’s cargoes. “Supplies are very tight from the Middle East and this situation has helped boost buying interest. We managed to secure some cargoes this month but they have not been delivered yet and we were not informed about the reason behind this delay. Considering the current market situation, we anticipate May prices to be around $100/ton firmer.

Another film products converter reported receiving offers from the same major Saudi Arabian producer while adding that the producer has delivered only half of their normal quotas so far. “We believe that the tight supply situation may linger into the next couple of months as we feel like producers are trying to control prices by providing limited amounts to the market. Considering the ongoing supply issues, we expect May offers to record around $80-100/ton hikes.”

Converters pegged the Saudi Arabian producer’s HDPE film offers at $1310/ton, their LLDPE film offers at $1330/ton and their PP film offers at $1320/ton on CIF Mombasa, Kenya, 90 days deferred payment basis.
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