Moroccan and Tunisian players: PP, PE demand is weak in May
A trader reported, “One of the regional producers rolled over their May PP and PE prices while another one rolled over their PE prices, except for LDPE film, for which they issued slight increases of $10/ton from April given their limited allocations for this particular product. Buying interest in Morocco is not strong despite supply limitations from Middle Eastern producers. We tie this situation to the poorly performing economy in the country.”
May Middle Eastern prices in Morocco stand at €1170/ton for HDPE film, €1200/ton for HDPE blow moulding, €1300/ton for HDPE injection, €1170-1200/ton for LDPE film, €1150/ton for LLDPE film, €980/ton for PP fibre and at €960-970/ton for PP raffia and injection on a CIF Casablanca, Morocco, 90 days deferred payment basis.
Meanwhile, an end product manufacturer operating in Tunisia reported receiving €20/ton firmer May LDPE film offers from a major Saudi Arabian producer at €1200-1210/ton on a CIF Tunis, Tunisia, 90 days deferred payment basis.
“Market activity has been slow while supplies are in line with buyers’ hand-to-mouth purchases. At the moment, we are not planning to make fresh purchases since we have some stocks left from our previous purchases. If we need any extra cargoes, we can always find materials to meet our immediate needs,” added the buyer.
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