Import PE Offers In Pakistan Move In Reverse, Demand For August Shipment Expected To Shift
- A global trading house skipped offering PE cargoes to Pakistan
- The rainy season drags down market sentiment
- PE prices will be stable at the current level in the upcoming weeks
Pakistani market players informed SSESSMENTS.COM that this week, import PE offers in Pakistan recorded moving in reverse. On weekly comparison, a trader adjusted up HDPE Blow Moulding of Middle East origin by $30/ton due to tight supply. Contrastingly, the trader lowered offers for LLDPE Film C4 from the same origin by $10/ton compared to the same period following lower ethylene prices coupled with slow demand. Despite the reduction, the number of deals for LLDPE Film C4 is limited as current price levels are still deemed too high. While for LDPE Film, the offers stand at $1,030/ton on LC at sight, CFR Karachi Port. No comparison as the trader did not have offers for these materials in the previous week. Meanwhile, owing to zero stocks, a global trading house skipped PE offers to Pakistan this week.
In general, PE resins demand in Pakistan remains on a soft note over the week. Buyers are reluctant to place orders, particularly for big volume purchases at the current price level. Moreover, the rainy season is dragging down market sentiment in the country. The lowest demand recorded for LLDPE Film C4 materials as buyers still cannot fully accept current high prices available in the market. On the supply side, market sources revealed to SSESSMENTS.COM that the availability of HDPE Blow Moulding is tight at the moment while tightness in Middle Eastern LLDPE Film C4 supply has eased.
Looking ahead, market players opined that PE prices will be stable at the current level in the upcoming weeks. While for demand, PE demand for August shipment expected to improve, especially for LLDPE Film C4 as most buyers did not procure materials for July shipment. Additionally, the PE market in Pakistan will be a little bit quiet during Eid Al-Adha holiday, sources stated to SSESSMENTS.COM.
