August Shipment PE Offers To Pakistan Projected To Continue July Shipment’s Trend
- Transactions recorded within the week were scanty
- Demand for end-products improved
- Significant adjustments will be applied on import PE cargoes from United Arab Emirates
Market players told SSESSMENTS.COM that August shipment PE offers to Pakistan are projected to continue July shipment’s trend. The players further informed that the PE offers from the Middle East were absent this week as most suppliers are expected to announce August shipment offers next week. Therefore, transactions recorded within the week were scanty. A distributor shared the company’s buy idea for HDPE Film and LLDPE Film C4 from United Arab Emirates for August shipment, between $960-970/ton for the former and at $990/ton for the latter. Market talks have it that Saudi HDPE Blow Moulding cargoes were sold at $860/ton and LLDPE Film C4 cargoes of the same origin were offered by traders at $950/ton this week. All are on LC at sight, CFR Karachi Port.
PE demand in Pakistan remains stagnant compared to last week, no negative sentiment is observed. Market players mentioned that overall demand for PE in the country during July is good, especially for HDPE Film. Buyers make purchases because prices might move higher in August. For end-products, this week, SSESSMENTS.COM was informed that demand for food packaging and plastic bags is improving. The monsoon has an insignificant impact on the market. No significant supply issues were reported.
Market players contacted by SSESSMENTS.COM foresee that PE offers to Pakistan for August shipment will remain on an uptrend. PE offers across all grades from the United Arab Emirates predicted to increase by $50/ton compared to July shipment offers. As for demand, buyers will keep on buying but most likely on a need basis because most had secured a notable volume in the last two months when prices were low.
