Middle Eastern producers reduce PP, PE prices to Tanzania
“Our raffia stocks are very low and we have to purchase some materials, but we believe that raffia prices should drop to around $1420-1430/ton. However, right now, we do not think that such steep discounts are possible. We might just get $10-20/ton discounts on deals. Meanwhile, the Middle Eastern producers’ availability seems comfortable. Considering the globally decreasing trend, the majority of players are refraining from taking positions in the market. Meanwhile, as converters, we still hold end products manufactured from previously-purchased high cost materials and we struggle to reflect our previous costs to our end product prices since our customers are asking for discounts while highlighting the declining trend.”
The buyer also received Middle Eastern LDPE film with $50/ton decreases at $1550/ton and LLDPE with $30/ton decreases at $1540/ton on a CFR Dar es Salam, United Republic of Tanzania, 90 days basis.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Expectations soften for PP raffia, fibre yet to follow in Turkey
- Will PE supplies from China flock to SEA?
- LDPE, LLDPE highest since Q3 2018; HDPE at 6-month high in Europe
- Intensifying trade war adds to bearishness in China’s local PP, PE markets
- PET prices hit multi-month lows in Asia and Europe
- Rising momentum fizzles out in European PS, ABS markets
- European PVC offers to Turkey shrug off higher costs
- Asian PVC players hold firm expectations for June
- May PP, PE offers to Mid-East, Africa remain stable to firm
- Global energy producers report lower Q1 results amid volatile crude prices