Gap between HIPS and PP raffia slightly narrows in Turkey
Source: ChemOrbis Price Index
The locally-held PP raffia centered between $1330-1350/ton ex-warehouse Turkey, cash inc VAT during the last working week of 2016. HIPS prices, on the other hand, were quoted at $1640-1710/ton with the same terms amidst deals at $1640-1660/ton.
“Homo PP prices may post $20-30/ton increases this month based on low netbacks compared to China and firmer import prices would push the local market up as well. However, HIPS prices seem to have reached their peak already amidst rallying butadiene costs and should see some downwards correction in January particularly if demand remains mediocre,” a distributor commented.
A disposables converter agreed, “The imbalance between PP raffia and HIPS has started to be corrected recently. PP prices are firming up while HIPS offers are finding some relief.” The buyer reported that he is covered for HIPS until February and he plans to wait in anticipation of hearing lower prices then. However, he will need to purchase some GPPS in the latter part of January.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Tightness shapes expectations for Sept PVC pricing in Asia
- PP uptrend falters in Indonesia amid downstream resistance
- Will European PE market sustain uptrend following higher ethylene?
- COVID-19 resurgence weighs on polymer sentiment in Vietnam
- Stats: Turkey’s H1 polymer imports defy pandemic, hit all-time high
- Stats: China’s total PP, PE imports set a new record in H1 2020
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?
- Import PE markets give softening signals in China, SE Asia
- PVC supplies tight, demand robust across Europe