A polyolefins producer based in the United Arab Emirates adjusted export PE and PP prices for August shipment to Pakistan market. A distributor informed SSESSMENTS.COM that producer’s offers for PE grades is currently limited to HDPE Film, while offers for LDPE Film and LLDPE Film C4 are expected to come no later than after Eid Al-Adha holiday. For HDPE Film, the offers increased between $30-40/ton, available at $950/ton. As for PP cargoes, an upward price adjustment of between $30-50/ton captured on the offers for export PP Block Copolymer, PP Homo Injection, PP Homo Film and PP Random Copolymer Injection. All prices are on LC at sight, CFR Karachi Port, all compared to the offers for July shipment. While for PP Homo Raffia, the offers are available at $980/ton, without price comparison provided. Further added by the distributor, allocation from the producer’s end is limited.
Regarding the response, customers said that procurement activities will take place after Eid Al-Adha holiday which starts from Friday, July 31 until Sunday, August 2. Looking ahead, the distributor opined that prices should be adjusted down following the current business climate in Pakistan, coupled with the weak demand from the downstream market, SSESSMENTS.COM was told.
