The energetic movement was seen in Pakistan market after the government allowing industries to restart production. A Pakistani distributor disclosed to SSESSMENTS.COM that government has allowed industries and manufacturers in the country to restart production with effect from May 9. Due to the replenishment activities done by customers after not buying raw materials for almost two months, the distributor sees dynamic movement in the market. The market sees a stronger demand recently for PE and PP, with the best demand seen for PP Homo Raffia and HDPE Film. In term of prices, May shipment offers for PE and PP from the Middle East are mostly lower between $10-20/ton compared April shipment.
Speaking of the replenishment activities done by the market players after the restriction relaxed, the distributor forecasted that the demand is unlikely to decline because the government started their action to stimulate the local industry in order to boost the economic condition, especially in the construction sector, as said to SSESSMENTS.COM. The improvement is expected to lift the demand for pipe grades in the near term. However, such an improvement is solely dependent on local consumption. Demand from the export market is still considered very weak, hence at the moment, converters are only catering to domestic demand. The distributor also added that pertaining to Eid Al-Fitr holiday, Pakistan market will be quiet from May 23 until May 27. Regarding the Coronavirus outbreak in Pakistan, it is considered under control and the number of increasing infection is not as high as the neighbouring countries.
Click below to view related stories and content on the Pakistan PE, PP market:
WeeklySSESSMENTS: Pakistan PP Prices Week Starting May 4
WeeklySSESSMENTS: Pakistan PE Prices Week Starting May 4
NewsSSESSMENTS: Saudi Producer Announces May Shipment PE, PP Offers To Pakistan
NewsSSESSMENTS: Saudi PE, PP Offers To Pakistan Shifted in Contrast with Market Expectations
AlwaysFree: Pakistan to Revoke Lockdown Despite Coronavirus Curve Edging Up
AlwaysFree: Pakistan's Fiscal Deficit to Surge to 9 Percent: Finance Minister
