Tanzanian buyer receives November Mid-Eastern PP, PE prices
“We are yet to receive other Middle Eastern producers’ prices and we anticipate around $40/ton decreases on average from those producers, too, for their PP grades. We think that the Saudi producer that we received new offers from may concede to further decreases if the rest of the regional producers approach the market with larger decrease amounts. At the moment, the high season for raffia applications has ended and the restocking activities will not start until March. Therefore, we anticipate larger decreases. Meanwhile, PE demand is performing relatively better when compared with PP but players are minimizing their purchases given the approaching year end and decreasing upstream costs. The majority of players prefer to meet their urgent needs and observe the market right now,” he commented.
The buyer received PP raffia at $1560/ton, LDPE film at $1600/ton and LLDPE c4 film at $1580/ton on CFR Dar es Salam, United Republic of Tanzania, 90 days deferred payment basis.
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