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South Africa’s Sasol reveals Feb and March PE prices

by ChemOrbis Editorial Team - content@chemorbis.com
  • 16/02/2016 (14:54)
In South Africa, the local PP and PE producer Sasol was reported to have revealed their February and March LDPE and LLDPE c4 film prices. A trader who received these new levels commented that the local producer elected to raise their March shipment offers when compared to February.

Sasol now offers February LDPE at ZAR17533/ton ($1113/ton) and LLDPE c4 film at ZAR19847/ton (1260/ton) on an FD Johannesburg, South Africa, 45 days deferred payment basis. However, the producer’s March levels are higher at ZAR19700/ton ($1251/ton) for LDPE film and at ZAR22300/ton ($1416/ton) for LLDPE c4 film with the same terms.

“The local producer’s March shipment offers indicate increases from February since import market sales continue to be hindered by the depreciation of the local currency. Therefore, players prefer to turn to the local producer to meet their needs, which resulted with higher March shipment offers from Sasol. Demand is not bad but is slower than we had hoped for,” added the trader.

Another trader also remarked, “Demand is normal when considering the time of the year. Buying interest has not noticeably picked up but it is definitely better when compared to last month. Import prices have been declining for the past several months, but the softening trend did not have much chance to be reflected to the market in a wide spectrum since the local currency has been devalued and players mostly meet their needs from locally available cargoes. Product wise, PP prices are still on a softening trend while the PE market has stated to change direction, albeit slowly. Regarding the upcoming months, we are anticipating some revival in price levels.”
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