Pakistan PP Market Resumed After Eid Holiday With New Import Offers From Saudi Burst In
- Saudi producers have released new PP offers to Pakistan
- No improvement in demand yet
- Outlook remains blurry
Market activity in Pakistan resumed after the Eid holiday break with the latest import PP offers from Saudi coming in. Market sources informed SSESSMENTS.COM that the offer received for PP cargoes from Saudi producers for June-July shipment posted an increase of $10/ton as compared to May shipment offers. PP Homo Film is offered between $880-900/ton, while both PP Homo Injection and PP Homo Raffia between $850-880/ton on LC at sight, CFR Karachi Port. Until the time of publication, no deals concluded yet.
Demand-wise, there is no improvement seen in the Pakistan PP market this week as players just get back to their desks after the Eid Al-Fitr holiday. Some traders mentioned that customers have booked enough quantities before the holiday. No supply issues reported to SSESSMENTS.COM this week.
Despite the current upward trend in prices, the outlook for Pakistan PP market remains blurry as demand remains the concern, market players told SSESSMENTS.COM. Due to this, most players prefer to adopt a wait-and-see stance before making any decisions.
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