Saudi major reveals Jan PE, PP offers higher in Kenya, Algeria
A film maker in Kenya reported that the Saudi major raised their offers by $40/ton from December in line with expectations. Accordingly, the Saudi’s new offers are standing at $1240/ton for HDPE film, at $1260/ton for LLDPE film, at $1280/ton for LDPE film and at $1090/ton for PP raffia and injection, all on a CFR Mombasa, 90 days basis.
“Demand on our end product is slow and the overall market activity is thin given the holidays,” added the converter.
In Algeria, a trader said that the major implemented larger increases of up to $100/ton from its December levels, bringing their new offers to $1250/ton for LLDPE film, to $1260/ton for HDPE film, to $1270/ton for LDPE film and to $1150/ton for raffia and injection, all on CIF Algeria, 90 days basis.
“We were expecting increases for January; however, the increase amounts exceeded our expectations. Demand is slow as the market activity is slow given the holidays, but we hope to see some improvements over the near term,” commented the trader.
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