17 January 2013 10:31 [Source: ICIS news]
SINGAPORE (ICIS)--Spot polyethylene (PE) prices in Pakistan for February shipment are likely to be weighed down by a surge in inflows of cheaper cargoes from Iran, a major market player said on Thursday.
“High density polyethylene (HDPE) film and high density polyethylene blow [moulding grade] [from Iran] started coming early this week,” the market player said.
On 11 January, HDPE film prices were assessed at $1,420-1,450/tonne (€1,065-1,088/tonne) CFR (cost and freight) Karachi, according to ICIS.
The Iranian cargoes’ market prices “may be lower on average by 10%”, the Karachi-based market player said, adding that the shipments may create an oversupply of PE in the Pakistani market.
($1 = €0.75)
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