Triple-digit adjustment on Middle Eastern PE and PP offers was recorded in Pakistan market, SSESSMENTS.COM noted. A trader based in Pakistan informed that import offers for HDPE Film, PP Homo Film, and PP Homo Injection of United Arab Emirates origin, as well as LLDPE Film C4 of Saudi origin, surfaced with a decrease of more than $100/ton as compared to March shipment. While last week, the trader managed to secure some volume of PP Homo Raffia from Oman and Vietnam at $820/ton and $760/ton respectively. All transactions were on LC at sight, CFR Karachi Port.
Further added, regardless of the lockdown in Pakistan, the trader commented that minor activities observed for PP Homo Raffia and PP Homo Injection and most materials were sold between $800-840/ton on LC at sight, CFR Karachi Port. The source opined that the sign of replenishment activities might not be seen in the near term as most buyers prefer to wait on the sidelines until the market direction becomes clearer, SSESSMENTS.COM.
