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Gap between PP raffia and fibre widest since early May in Turkey

by ChemOrbis Editorial Team -
  • 02/02/2017 (05:44)
In Turkey, PP prices have been increasing since early December on the back of limited imports from the Middle East, India and Iran. The premium PP fibre carries over raffia prices has recently reached a 9 month-high at $87/ton, as can be seen in the graph below. Players are attributing the wider gap to the reduced supply levels and better demand for PP fibre.

Source: ChemOrbis Prize Wizard

Many players confirmed that PP fibre prices have risen at a faster pace than PP raffia prices. A distributor stated, “Demand is not that bad as we could manage to sell PP raffia too, although PP fibre demand is better. The bullish PP market is supported by expectations for higher prices in China following holidays.”

The delta between these two products had narrowed in mid-December, marking only a $14/ton difference. A manufacturer attributed this to the thin trading activities during that time, saying, “Many buyers did not purchase much material during December and delayed their purchases. However, they started to return back to the market to replenish some inventories by the second half of January. The market may stabilize in February-March period though, but prices would still hover at current higher levels.”

A buyer reported, “We are active in the market to make some purchases nowadays and PP prices are increasing. We concluded a deal for Middle Eastern PP fibre at $1100/ton on CIF Turkey, cash basis last week before offers moved up further.”

A different distributor also noted, “The PP market is firmer than PE, with particularly PP fibre grades seeing healthy interest.”

This week, Saudi Arabian PP raffia prices emerged $10-20/ton higher at $1050-1060/ton CIF, subject to 6.5% duty, cash, while fibre offers rose $30-40/ton to $1120-1150/ton. Iranian PP raffia was sold at $1040/ton CPT, subject to 6.5% duty while new prices were talked at $1080-1090/ton depending on grade. PP fibre prices from Iran, meanwhile, were up $30/ton on both ends at $1150-1180/ton.
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