Kenyan players receive Jan PP, PE prices from Middle East
A converter operating in Nairobi reported that they received new Middle Eastern offers for January HDPE b/m with $20/ton drops from December at $1230/ton CFR Mombasa, Kenya, 90 days deferred payment basis. The buyer is still waiting to hear from other Middle Eastern producers while his price expectations remain on the soft side when considering the bearish global trend.
Meanwhile, a couple of different converters also received new January PP and PE prices from a major Saudi producer. The producer’s new homo-PP prices indicate $10/ton decreases while their PE offers represent rollovers to $30/ton decreases. Their prices stand at $1250/ton for HDPE film and b/m, at $1230/ton for LDPE film, $1020/ton for PP film and at $1030/ton for PP raffia and injection on CFR Mombasa, Kenya, 90 days deferred payment basis.
A converter commented “A major Saudi producer’s January HDPE film and b/m offers indicate rollovers from December. However, given the slow market conditions, we are confident that price levels will see further reductions in the days ahead. Regarding locally held availability, supply levels are currently tight due to some inspection procedures at the ports.”
Another Kenyan converter also confirmed the tight locally held supplies on the back of new inspection procedures at the ports. “A major Saudi producer’s new January pricing policy indicates a stable to softer trend when compared with their initial December levels. However, the global trend remains bearish and we do not expect any improvements over the short term,” he added.
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