Sept Middle Eastern PP, PE prices surface stable to firm in Kenya

In Kenya, September PP, PE offers started to surface from the Middle East with rollovers to increases. Although the majority of players were waiting to receive stable to soft prices for another month, regional sellers are aiming to achieve higher prices in line with the global firming trend.

A converter operating in Nairobi stated that a Saudi producer lifted its September PE prices by $10-20/ton for LDPE film, $20/ton for HDPE film and $40/ton for LLDPE c4 film while PP offers were mostly steady on the month.

The producer’s new levels stand at $1280-1290/ton for LDPE film, $1160/ton HDPE film, $1240/ton for LLDPE c4 film and at $1100/ton for homo PP raffia and inj., all on CFR Mombasa, Kenya, 90 days deferred payment basis. The buyer added, “Even though demand is still calm, we think that players will return to the market to replenish their stocks ahead of the elections that will take place in October.”

A different converter also confirmed higher offers from the Middle East for September, adding, “We are not willing to make any purchases now as we are confused about the impacts of the ban on plastic bags.”