Import PP, PE prices for May announced higher to Africa
According to players in Africa, import May prices for PP and PE have been announced with significant increases from April, with sellers pointing to limited availability as the main factor supporting their price increases…
According to players in Africa, import May prices for PP and PE have been announced with significant increases from April, with sellers pointing to limited availability as the main factor supporting their price increases. Buyers commented that they found the size of the May increases they received from the market to be unreasonable, claiming that demand is not strong enough to support higher prices.
A film products manufacturer based in Kenya stated that they received higher PP and PE prices from two different Middle Eastern producers for May. “We expect to hear higher prices from another Middle Eastern producer over the short term as the supplier has been limiting their allocations to Kenya for the past few months and is therefore feeling free from inventory pressure. Demand is steady in Kenya while supply is sufficient to meet the market’s needs. Price increases may pass for this month, but we believe that prices will stabilize by June,” the buyer commented. Another converter reported receiving higher PP and PE prices for May from a Saudi major. “Supply was a bit tight in the previous month, so we had been expecting higher prices from Middle Eastern suppliers,” the buyer reported.