Saudi producers announce Feb PP, PE prices to Kenya
A converter operating in Nairobi said, “February prices came with decreases as demand remains slow in Kenya. These decreases were already expected in the market so the drops were not surprising. Most players are still limiting their purchases to their urgent needs but we think that after this month’s decreases more players will return to the market to replenish their stocks. However, Saudi producers highlight their limited quotas, especially for HDPE and LDPE film.”
Meanwhile, another Kenyan converter remarked, “Demand has been picking up since January and further improvements are expected given the approaching agricultural season. Supplies are slightly tight but they are still in accordance with buying interest.”
February Saudi prices indicate $30-100/ton decreases for PP and $20-80/ton drops for PE and stand at $1150-1170/ton for HDPE film, $1170-1190/ton for LDPE film, $1150/ton for LLDPE film, $930/ton for PP film, raffia and injection and at $1000/ton for PPBC injection on a CFR Mombasa, Kenya, 90 days basis.
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