Demand for HDPE film, b/m recovers in Turkey
“Limited August allocations from our Uzbek supplier combined with the hikes from all suppliers including from Iran and the Middle-East helped demand recover eventually,” a trader highlighted. A manufacturer confirmed, “Traders told us that they already sold out their Uzbek cargos amidst better demand from large buyers this month. Iranian sources applied hikes of up to $40/ton just in a week while an Egyptian source does not have prompt HDPE material at bonded-warehouse for now.”
Another factor that reinforced the firming trend for PE was the increase announcements from the domestic producer, Petkim. Distributors have also followed the producer’s hikes since late July. Petkim’s price hikes on HDPE injection and b/m have reached $60/ton in total following three increases in a row since the last week of July. “We realize that prompt supplies have diminished for film and b/m as buyers returned to the market in line with the bullish trend after staying sidelined for a long time,” commented a seller.
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