SINGAPORE (ICIS)--Middle East buyers are purchasing polypropylene (PP) only at minimal quantities due to a lack of direction in the spot market, industry sources said on Wednesday.
 

“There is no direction whatsoever. Who knows what will happen next?” a Dubai-based PP trader said.


PP buying is taking place on a need-to basis as traders in the region expect further price drops.

“Sentiment is so weak now. Buying is hand-to-mouth,” a separate trader in Dubai said.


Downstream demand for PP is also weakening as most convertors are well-stocked ahead of the end-year season.


Suppliers selling into the Middle East do not rule out further corrections should sentiment remains lacklustre.

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