18 September 2013 16:57 [Source: ICIS news]
LONDON (ICIS)--The African polyethylene (PE) market is muted as buyers await producers’ October offers, participants said on Wednesday.
With crude oil prices having softened to some extent following the seemingly reduced likelihood of Western nations' military intervention in the Syrian crisis, there is speculation that October PE prices may soften from September levels.
“There’s a fair chance prices might come down in October,” a producer said. “Producers will feel pressure to sell [at September prices] – this [pressure] will increase in the coming days.”
A distributor said: “There’s no impact of softer crude [prices] yet, [people are] waiting for the next prices in ten days’ time.”
When asked the reason for ongoing poor demand, a second distributor said: “Customers believe prices will come down. They’re waiting.”
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