Kenya's elections delay March PE, PP import trade

05 March 2013 14:41  [Source: ICIS news]

Kenyan woman casting her vote at a polling station in NairobiLONDON (ICIS)--Kenya's converters are postponing March polyethylene (PE) and polypropylene (PP) sales as they await the country's election results, distributors and producers said on Tuesday.

Elections were held in Kenya on 4 March, and results are expected this week.

Trade had ground to a halt at what is normally the busiest time of the month when buyers procure most of their monthly volumes.

East African high density polyethylene (HDPE) – the PE type most in demand in Kenya – import prices were at $1,550-1,620/tonne CFR (cost and freight) towards the end of February.

March Middle East import offers are quoted $10-40/tonne higher than February, but buying interest is yet to pick up.

The Kenyan market had been closed for 3-4 days because of the country's elections. The market situation will depend on the political mandate and sentiment after the results have been declared, a distributor active in Kenya said

A second distributor source based in Kenya said: "'Till now no deals have taken place as elections [are] going on in Kenya."

Converters in Kenya had kept stocks low for weeks as speculation mounted on the impact of the presidential election.

A third distributor source in Kenya said: "Converters are holding back to see. It has affected buying last month. People are waiting for the elections to be over. Not had any deals [over the past week]."

Last month, a major Saudi producer acknowledged demand in Kenya had been sluggish for weeks prior to the elections.

By: Cuckoo James
+44 (0) 208 652 3214

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