A distributor informed SSESSMENTS.COM that July shipment offers for PE and PP cargoes from an Emirati producer with three-digits adjustments gain positive responses from buyers. On July 1, an Emirati producer has announced July shipment offers for PE and PP cargoes to Pakistan market with upward adjustments. As compared to June, July shipment offers for HDPE Film from the producer increased by $120/ton, the offers stood at $910/ton for big volume purchases and $920/ton for smaller volume. While for LDPE Film and LLDPE Film C4, the offers are available with increases of between $100-110/ton and $110-120/ton, respectively compared to the same period. Likewise, for PP cargoes, July shipment offers for PP Homo Injection and PP Random Copolymer Injection moved up by $100/ton, while offers for PP Block Copolymer surged by $100-110/ton from June shipment. As for PP Homo Film, the offers stood at $980/ton, no comparison as the producer did not have offers for these cargoes for June shipment. All offers are on LC at sight, CFR Karachi port.
According to the distributor, so far, the offers gain positive responses as buyers are accepting the current prices. The distributor further explained that the demand for PE and PP at the distributor’s end remain healthy since last month. More added, currently, most converters in Pakistan are running the same rates as last month at 60-70% from normal production. The distributor opined that import PE and PP prices in Pakistan will remain firm in the upcoming months. Moreover, buyers will still accept up to $10-20/ton price increase, as stated to SSESSMENTS.COM.
