Buying sentiment for PE weak in Pakistan after Eid holiday

07 August 2014 13:03 Source:ICIS News

SINGAPORE (ICIS--Buying sentiment for polyethylene (PE) is described as soft in Pakistan after the Muslim festival of Eid-ul-Fitr in late July, industry sources said on Thursday.

“People are not buying. Either they are not back or market is really down,” according to a Karachi-based polymer trader.

PE allocations for August were offered before Eid-ul-Fitr but buying is taking place on a hand-to-mouth basis, according to another Karachi-based trader.

A producer was heard lowering offers for high density PE to spur buyers forward, but buyers remain resistant, the trader said.

By Muhamad Fadhil