Kenyan players receive Mid-Eastern July PP,PE prices
A film products converter, who received new prices from the producer, stated, “Along with the global decreasing trend, the Saudi Arabian producer also issued decreases. Overall market activity is very slow while supplies are ample when considering buyers’ purchase amounts. Players are generally waiting for further downward adjustments on offers levels and are therefore remaining cautious towards new purchases.”
Another converter who also received the producers’ new prices commented, “July prices were announced with decreases as expected, but players are still hesitating to make fresh purchases. The gap between the US dollar and the Kenyan shilling has widened further and this situation has caused buyers to find new offer levels given on dollar basis to be quite high. Many players are pushing to conclude deals with further discounts while demand remains generally weak. This situation is encouraging buyers not to rush their purchases.”
Price wise, the Saudi Arabian producer’s new offers stand at $1480/ton for HDPE film, LDPE film and LLDPE film and at $1450/ton for PP raffia and injection on a CIF Mombasa, 90 days deferred payment basis. When comparing these prices with initial June levels, some PE products indicate up to $70/ton decreases while homo PP offers are $40/ton lower.
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