North African players report limited Sept. supplies for PP, PE
Prices in Tunisia and Algeria were pegged at €1240-1250/ton for HDPE injection and at €1090/ton for PPBC injection on CIF Tunisia, 90 days and CIF Algeria, 90 days basis. Meanwhile, European PPBC injection offers were pegged at €1100/ton and at €1130/ton with the same terms from two different European producers.
A Tunisian converter, who obtained these offers from Saudi and European producers, commented, “Supplies are limited this month but buyers, who are hoping to get further discounts, are resisting the current levels. Overall demand is normal and we hope that it will improve further in the days ahead. Yet, in general, a cautious stance prevails on the buyers’ side.”
Another converter in Tunisia remarked, “September supplies are limited from a major Saudi producer. Overall demand is quite moderate due to the summer holidays as well as the consecutive religious holidays, Ramadan and Eid. Prices are still negotiable amidst weak buying interest.”
In Morocco, players pegged overall prices from a major Saudi Arabian producer at €1150-1180/ton for HDPE film, €1130-1150/ton for LDPE and LLDPE film and at €1020/ton for PP raffia and injection on a CIF, Casablanca, Morocco, 90 days deferred payment basis.
A trader offering to Morocco said, “A Saudi producer’s offers indicate large decreases for September, but we are still waiting to see buyers’ response to these levels.” Meanwhile, a converter operating in Casablanca stated, “We see good end demand for film products. However, polymer supplies are not that comfortable and we lack a clear view regarding the upcoming trend considering the unstable market conditions and fluctuating oil prices.”
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