African PP and PE markets continued to rise in March as the recent production disruptions in the US exacerbated the already tight global supply situation. Although demand was hardly changed from last month, the supply-driven hikes pushed prices to new highs in the regional polyolefin markets.
Petrochemical facilities along the US Gulf Coast were brought to a near halt by a winter storm that lasted from February 13 to February 17. As the winter storm idled almost 100% of resin and feedstock output in Texas, the supply situation tightened even further in global markets. The Middle Eastern suppliers’ allocations to the African markets too were heavily affected.
Although some facilities were heard resuming operations gradually in the US, a large capacity of output remains offline in the region.
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