18 October 2013 11:17 [Source: ICIS news]
DUSSELDORF (ICIS)--African polyethylene (PE) and polypropylene (PP) prices are likely to hold steady in the coming weeks because of recovering demand and a balanced market, a producer visiting the K2013 trade fair said on Friday.
“My personal feeling is that prices will be stable in the next few weeks,” the source said. “I don’t see a further fall in prices.”
This is despite many market participants expecting a softening of African prices on the back of recent poor demand and and a slowdown in some of the major markets such as India, Turkey and Europe.
Some African PE and PP prices have already decreased in October, despite producers’ targets of rollovers or small increases.
The producer spoke of an upturn in demand during the last couple of days.
“Buyers have held back [waiting for prices to soften] too long, they have to buy now,” the producer said.
The source also added that inventories are balanced.
($1 = €0.74)
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