North African players: April PP, PE supplies tight
Another converter operating in Algeria reported receiving LDPE film offers from a Middle Eastern producer at $1345/ton on CIF Algeria, 90 days deferred payment basis while they also received South European LDPE film at $1400/ton with the same terms. However, the converter said that they have not received many offers from Saudi Arabian and European producers for April. “Supplies have been very tight both in Europe and the Middle East. Players are struggling to get even their immediate needs. Luckily for us, we had some stocks to work with and we were not greatly affected by this situation. Apart from the supply issues, the Algerian dinar retreated against the US dollar by around 10%, causing a liquidity problem in the market. Despite cash flow issues, we still anticipate firmer May offers on the back of supply problems,” he added.
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