September PP, PE offers reverse up in Morocco, Tunisia

Players in North Africa started to receive increases for their September PP and PE offers after months of price declines.

In Morocco, initial September offers emerged with €40/ton ($43/ton) increases for PE and €50/ton ($54/ton) increases for PP. The increases came following the €30-50/ton discounts recorded during August.

“We are holding our purchases for the time being as we are expecting sellers to negotiate the announced levels. Meanwhile, trading activity remains below average ,” opined a local source.

September offers are currently standing at €960-970/ton ($1040-1051/ton) for LDPE, €940-950/ton ($1018-1029/ton) for LLDPE, €950-960/ton ($1029-1040/ton) for HDPE film, €990-1000/ton ($1072-1083/ton) for HDPE b/m and inj., €1050-1060/ton ($1137-1148/ton) for PPBC, €1090-1100/ton ($1181-1192/ton) for PPRC, €940-950/ton ($1018-1029/ton) for PPH raffia and inj., and €980-990/ton ($1062-1072/ton) for PPH film and fibre., on a CIF Casablanca, cash basis.

Players in Tunisia also reported receiving new September offers with €20/ton ($22/ton) increases after the €30/ton decreases achieved earlier in August.

According to market sources, new increases were supported by the firming sentiment in other global markets; yet they don’t reflect the true market status in Tunisia.

September offers were reported at €1010-1030/ton ($1094-1116/ton) for LDPE, €940-950/ton ($1018-1029/ton) for LLDPE, €930-950/ton ($1007-1029/ton) for HDPE film, €960-970/ton ($1040-1051/ton) for HDPE b/m and inj., €1060-1070/ton ($1148-1159/ton) for PPBC, €1090-1100/ton ($1181-1192/ton) for PPRC, €950-960/ton ($1029-1040/ton) for PPH raffia and inj., and €980-990/ton ($1062-1072/ton) for PPH film and fibre., on a CFR Tunisia, 90 days basis.

Meanwhile, in Algeria, players are still waiting to receive the new September offers with expectations centering around increases as well.