May PP, PE offers to Mid-East, Africa remain stable to firm
by Pınar Polat - ppolat@chemorbis.com
PP and PE suppliers have maintained their firm stance for May and approached the Middle-East and Africa with rollovers to slight gains. However, players were skeptical about the workability of these hikes, pointing to limited demand.
Saudi major applies PE increases on local market
Having applied increases for both PP and PE in April, a major Saudi producer lifted its local PE offers further by SAR37-38/ton ($9-10/ton) for May. When it comes to PP, the major producer elected to keep its new offers stable.
A company source noted, “We expect to see limited demand throughout the Ramadan month. Supply, on the other hand, is comfortable".
LDPE makes an exception in UAE
Emirati players operating in local and import polyolefin markets received May offers with rollovers from April, except for LDPE, which indicated monthly increases.
A major Saudi producer increased its May LDPE offers by $20/ton while keeping its remaining PE and PP grades stable from April.
A domestic producer also adopted a similar pricing and only increased its LDPE offers by $20-30/ton on the month.
Mid-Eastern PP, PE offers stable to up in Egypt
A major Saudi producer approached Egypt mostly with rollovers for May while a different Saudi producer preferred to lift its new offers by $30-70/ton from April.
“Demand for polyolefins is weak in the midst of the Ramadan month and sources mostly reported that they are aiming for lower deals,” players opined.
Egypt’s EPPC changes pricing policy after 3 months
EPPC, one of the two local PP producers of Egypt, took a break from its firmer pricing that was in place since February and rolled over its May PP offers
.
A company source attributed the recent pricing to slow demand, which is mostly limited to buyers’ needs.
Nigeria’s ELEME lifts PP again, PE follow suit
The local producer ELEME increased its May offers to the domestic market with increases of NGN15,000/ton ($42/ton) for PP grades. This has been the third straight PP hike from the producer.
After keeping April PE offers stable, the producer also lifted its new PE offers by NGN10,000-12,000/ton ($28-33/ton).
PP up, PE stable in Kenya
Meanwhile, in Kenya, a major Saudi producer’s May PP offers indicated a monthly increase of $20/ton while PE offers were flat.
An end products manufacturer underlined that demand remained moderate with buyers purchasing based on their urgent needs.
Saudi major applies PE increases on local market
Having applied increases for both PP and PE in April, a major Saudi producer lifted its local PE offers further by SAR37-38/ton ($9-10/ton) for May. When it comes to PP, the major producer elected to keep its new offers stable.
A company source noted, “We expect to see limited demand throughout the Ramadan month. Supply, on the other hand, is comfortable".
LDPE makes an exception in UAE
Emirati players operating in local and import polyolefin markets received May offers with rollovers from April, except for LDPE, which indicated monthly increases.
A major Saudi producer increased its May LDPE offers by $20/ton while keeping its remaining PE and PP grades stable from April.
A domestic producer also adopted a similar pricing and only increased its LDPE offers by $20-30/ton on the month.
Mid-Eastern PP, PE offers stable to up in Egypt
A major Saudi producer approached Egypt mostly with rollovers for May while a different Saudi producer preferred to lift its new offers by $30-70/ton from April.
“Demand for polyolefins is weak in the midst of the Ramadan month and sources mostly reported that they are aiming for lower deals,” players opined.
Egypt’s EPPC changes pricing policy after 3 months
EPPC, one of the two local PP producers of Egypt, took a break from its firmer pricing that was in place since February and rolled over its May PP offers
.
A company source attributed the recent pricing to slow demand, which is mostly limited to buyers’ needs.
Nigeria’s ELEME lifts PP again, PE follow suit
The local producer ELEME increased its May offers to the domestic market with increases of NGN15,000/ton ($42/ton) for PP grades. This has been the third straight PP hike from the producer.
After keeping April PE offers stable, the producer also lifted its new PE offers by NGN10,000-12,000/ton ($28-33/ton).
PP up, PE stable in Kenya
Meanwhile, in Kenya, a major Saudi producer’s May PP offers indicated a monthly increase of $20/ton while PE offers were flat.
An end products manufacturer underlined that demand remained moderate with buyers purchasing based on their urgent needs.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Local PP, PE offers for July track global uptrend in Saudi Arabia
- Initial ABS prices for July see larger increases than PS in Europe
- Supply constraints spark stronger PE trend than PP in global markets
- ABS, PS uptrend falters in China after H1 2020 ends at multi-month highs
- Stats: China’s total PP imports spike in May; Vietnam and India’s rising shares shine out
- Tight supply drives HDPE, LLDPE gains in Southeast Asia
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
