Scanty Activity Recorded In Pakistan PE Market As Buyers In Holiday Mood
- A Saudi PE producer has announced August shipment offers to Pakistan
- Pakistan PE market is quiet this week
- PE demand is expected to pick up once the holiday is over
Pakistani market players revealed to SSESSMENTS.COM that scanty activity was recorded in the Pakistan PE market as buyers in a holiday mood. This week, not many PE offers were captured. At the beginning of the week, a Saudi producer announced August shipment offers for LLDPE Film C4 to the Pakistan market. The offers from the producer were available at $950/ton on LC at sight, CFR Karachi Port, which only valid until July 27. However, no deals were concluded as buyers’ response towards these offers were cold amid holiday mood.
As informed to SSESSMENTS.COM, Pakistan PE market is quiet this week. Scanty trading activity was observed since buyers are not interested in making purchases as they are currently in holiday mood ahead of Eid Al-Adha celebration, which will take place on July 31. On the supply side, no significant issues were reported this week.
Looking ahead, Pakistani market participants believe that the PE market in the country will be back on track once the holiday is over. Hence, PE demand is expected to start to pick up by that time. Additionally, players are expecting more import offers to come out by next week, as stated to SSESSMENTS.COM.
