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South African trader: PE buyers reluctant to make purchases

by ChemOrbis Editorial Team -
  • 13/04/2016 (17:10)
A trader operating in Cape Town, South Africa stated that a major Saudi Arabian producer came with up to $50/ton increases on their April PE offers while adding that a South African producer, Sasol, followed different strategies on their April PE offers in the local market.

“Sasol lifted their LLDPE and HDPE film offers while they lowered their LDPE film prices. In general, prices are increasing in global markets but buyers are generally unwilling to commit to fresh purchases amidst limited demand. Plus, increasing dollar exchange rates against the local currency, the rand, is another factor that hinders purchases,” he added.

The trader received Saudi Arabian HDPE and LLDPE c4 film at $1320/ton and LDPE film at $1340/ton on a CFR Durban, South Africa, 90 days deferred payment basis. Meanwhile, he received South African HDPE film at ZAR32000/ton ($1837/ton without VAT) and LDPE film at ZAR19110/ton ($1097/ton without VAT) on an FD Johannesburg, South Africa, 45 days deferred payment basis including 14% VAT.
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