PP Demand In Pakistan Expected To Improve Following Buyers’ Acceptance On Current Offers
- Some deals were successfully concluded for PP Homo Raffia and PP Homo Injection
- Demand for PP is better than last week
- PP supply is tight, especially for PP Homo Injection
Market players told SSESSMENTS.COM that PP demand in the Pakistan market is expected to improve following buyers’ acceptance on the current offers. The players informed that this week, July shipment PP offers from the Middle East to Pakistan surfaced between $80-100/ton higher compared to June shipment offers. As buyers realized that offers from most suppliers have increased, deals for PP Homo Raffia and PP Homo Injection from the Middle East were successfully concluded at $950/ton on LC 90 Days, CFR Karachi Port.
SSESSMENTS.COM was informed that demand for PP in Pakistan this week is better compared to last week, but is still considered weak. Buyers are more willing to make procurements at the offer levels available this week. On the supply side, supply for PP remains tight, especially for PP Homo Injection because some suppliers do not have offers for the grade to Pakistan.
Market players contacted by SSESSMENTS.COM expressed an optimistic outlook for PP demand in Pakistan in the near term. The players believe that slow PP demand seen previously was mostly due to buyers’ resistance on high offers. Since the resistance started to wear off, demand for PP is expected to be good. Hence, PP prices will be stable to firm in the near future.
