North African players receive December PE prices
The buyer reported, “The new prices we received are reasonable and they seem to be seeing acceptance from market players. However, buyers are still looking for further decreases and they are holding their purchases until they obtain some discounts. Regarding end product demand, our orders have lessened by around 15% and we are running our plant at 80% capacity. Now, players in Morocco are waiting to hear other Middle Eastern producers’ prices.”
Another buyer operating in Algeria also received new December offers from Middle Eastern producers. The converter received LDPE film with $50/ton decreases at $1600/ton and LLDPE film with $40/ton decreases at $1560/ton on a CIF Algeria, 90 days basis. Meanwhile, he also received HDPE film at $1580/ton with the same terms.
“Trading is still performing slowly in Algeria and players are anticipating further decreases while trying not to exceed their limits when purchasing. This is not surprising given the fact that we are in the last month of the year and markets traditionally go quiet at the year end. On another note, supply levels are sufficient,” added the buyer.
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