02 October 2013 17:30 [Source: ICIS news]
LONDON (ICIS)--The West African polyethylene and polypropylene markets continue to suffer from poor demand, participants said on Wednesday.
“Demand here is dead slow,” a local producer said. “The moulding sector is the worst affected due to slow demand from consumers. We are hopeful of an improvement within the next two weeks. Let’s hope for the best.”
A distributor said: “It’s hand to mouth buying. Prices are so high, nobody is going to book extra material.”
Both expect prices to soften in the coming weeks because of softer feedstock costs, however.
“With upstream prices softening, we can hope for translating it into a softening of downstream prices as well,” the producer said.
“Whoever needs the product will take it [at current prices],” the distributor said. “People who don't need it will be more savvy, they will wait. In November we expect the decline of prices.”
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