25 September 2013 17:58 [Source: ICIS news]
LONDON (ICIS)--Some producers of polypropylene (PP) for the African markets are targeting a rollover of prices from September into October, they said on Wednesday.
“We rolled over from September,” a producer of homopolymer raffia said.
“The market is expecting a rollover from September,” a block copolymer producer said. “Crude has softened to some extent.”
Another producer said: “In today's market, many people agree that it [prices} will roll over.”
However, other producers are less sure of their October price targets.
“As of now we are keeping prices stable and we’ll take a call on October prices after seeing the monomer movement in Europe,” another said.
Yet another producer said it is too early to decide. It is monitoring the market before making any price decisions.
Softer crude values have led to recent speculation among some participants that October PP prices might soften.
African demand for PP remains muted and some have attributed this to buyers holding back on the expectation of a downturn.According to a distributor in the west African market, it is difficult to gauge where the market is headed.
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