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South African trader: March outlook is firm

by ChemOrbis Editorial Team -
  • 17/02/2015 (15:16)
A trader operating in South Africa reported that local producers Sasol and Safripol (Pty) Ltd. revealed their March offers with rollovers. Local South African producers traditionally reveal their prices a month before the intended month. “Local producers announced their March prices when prices were still tracking a downward trend. Now they have decided to stick with their announcements and no upward adjustments are expected from them since they usually announce their offers on a monthly basis without any adjustments. Meanwhile, increase expectations for March caused players to return to the market to make some fresh purchases. However, purchase amounts are still limited by cash flow issues and difficulties obtaining letters of credit at banks. For March, overseas suppliers are anticipated to issue either rollovers or up to $50/ton increases, supported by developments in upstream markets,” he added.

In the import market, the trader said that a major Saudi Arabian producer’s PE offers are indicating up to $140/ton decreases from January. However, he also commented that overall supplies from the Saudi producer are limited, especially for HDPE film, causing their HDPE film prices to carry a premium over their LDPE film prices.

The trader offers Saudi HDPE film at $1280/ton while they offer LLDPE c4 film and LDPE film at $1260/ton on a CFR Durban, South Africa, 90 days deferred payment basis.
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