Africa polymer prices expected soften August - Arhive

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Africa polymer prices expected to soften in August as sentiment weakens    Africa polymer prices expected soften August 

 Source:ICIS News

LONDON (ICIS)–African polyethylene (PE) and polypropylene (PP) prices have been stable this week but sentiment is weakening and many players are now expecting prices to soften.Africa polymer prices expected soften August  

Supply levels have improved across all grades, although some, especially linear low density polyethylene (LLDPE) were already plentiful.

Raffia and high density polyethylene (HDPE) have both recently been tight.

Africa polymer prices expected soften August

Demand remains subdued in the midst of a traditional summer lull and the continuing rainy season across east and west Africa.Africa polymer prices expected soften August

Price stability is being maintained by a lack of new offers on the market.

Middle Eastern producers have completed June allocations.

Most buyers are now holding off purchasing until August.

Expectation is that suppliers from the Middle East will offer lower prices but, until then, they are unwilling to make purchases for fear of missing out on larger discounts.

A weakening Asian market is expected to play a major role in August offers in Africa.

Prices are not expected to change for the remainder of July, despite some lower offers being made.Africa polymer prices expected soften August

A supplier said that it was already willing to discount current prices up to $20-40/tonne, depending on product, in an effort to move stock.Africa polymer prices expected soften August

The direction of the market is likely to remain vague until August offers have been released.

Africa polymer prices expected soften August

Focus article by Ben Lake

By Ben Lake
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