Pakistani Players Saw Small Activities In PE Market Ahead Of Eid Al-Fitr Holiday
- Some deals captured for import Middle Eastern and US cargoes
- Small activities were still observed in the market
- Market players prefer the wait and see stance
Pakistani market players shared with SSESSMENTS.COM some transactions for PE ahead Eid Al-Fitr holiday. For the week commencing May 18, market sources stated that there are no fresh offers recorded in the Pakistan market. However, there were some deals concluded this week. For US HDPE Blow Moulding, done deals were achieved at $750/ton. Sources also reported some deals for LLDPE Film C4 cargoes of US origin at $730/ton. While for Middle Eastern cargoes, deals for LDPE Film and LLDPE Film C4 concluded at $810-820/ton and $750-755/ton respectively. All transactions were on LC at sight, CFR Karachi Port.
In line with the approaching Eid Al-Fitr holiday, which started from May 23 until May 27, market sources stated to SSESSMENTS.COM that there were small activities recorded in the market, especially for LLDPE grades. On the supply side, there are no issues reported in the country.
Regarding the price outlook, the majority of Pakistani players contacted by SSESSMENTS.COM do not want to speculate, prefer to continue observing the market development. In terms of demand, there will be limited to zero activities in Pakistan PE market in the upcoming week as players will be off for Eid Al-Fitr holiday.
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