Kenyan players report firmer Saudi PP, PE prices in May
A film products manufacturer operating in Kenya stated, “A major Saudi producer’s new May PE offers are $170-180/ton firmer when compared to April. The Saudi producer still delivers only one container for each product given their tight availability while overall supply issues remain in place in the country. Meanwhile, we see moderate demand for our end products. We are operating our plant at 80% capacity.”
Another converter added, “A major Saudi producer’s HDPE film offers indicate increases of up to $180/ton when compared with April. Overall supplies are very tight in Kenya and most offer levels are pronounced at very high levels that cannot be accepted. We see good demand for our end products and are running our plant at around 80% capacity. However, tight supplies are creating some panic amongst buyers.”
A different Kenyan converter, who received $160-210/ton PE increases from a major Saudi Arabian producer for May reported, “The Saudi producer continues to supply in very restricted amounts while tight supply is propping up the buying interest in the market. If availability issues persist, further increases might be possible.”
Another converter operating in the country also confirmed a Saudi producer’s tight supplies and high offer levels. “Demand for our end products is picking up as we have started to receive an increasing number of inquiries. At the moment, we are trying to secure some cargoes from suppliers who can provide us competitive levels,” he added.
Prices were reported at $1500-1520/ton for HDPE film, $1470/ton for HDPE b/m, $1560-1580/ton for LDPE film, $1540/ton for LLDPE film and $1480/ton for PP film from a major Saudi Arabian producer on CIF Mombasa, Kenya , 90 days deferred payment basis. Meanwhile, another Saudi producer’s offers were reported at $1500/ton for HDPE film in line with other regional producers’ offers. However, their LDPE and LLDPE c4 film offers are below a Saudi producer’s offers at $1420/ton and $1390/ton with the same terms.
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