Both converters and traders are planning to wait until other Middle Eastern producers unveil their new prices before deciding on their next step. A trader opined, “We already expected to hear price increases of up to $100/ton from the supplier. We will wait for other regional sellers to express their May offers before making our purchases.”
According to some traders, buyers are not rushing to engage in fresh cargos as fluctuating USD currency as well as generally sluggish activity keeps overall sentiment cautious. “Demand is muted given unstable exchange rates,” one of them noted.