Import PE hits more-than-a-year low in Turkey, Aug sentiment improves
Heading to August, however, expectations about further decreases in the PE market are now faltering after an upturn in the PP sentiment seen last week coupled with a stronger PE trend in China. Accordingly, the sentiment has somewhat improved recently particularly on the sellers’ side.
Petkim’s price hike for certain PE products on Monday also contributed to the relatively improved sentiment in the PE market. The domestic producer increased its list prices by $15-20/ton for two LDPE-t grades as well as HDPE blow moulding and injection.
Today, a source from a Middle Eastern PE producer reported, “We were expecting PE prices to lose another $10-20/ton for August until very recently. However, the rising trend in China has firmed the sentiment up for PE relatively. Prices may stabilize or even shift direction for the new month.”
A source from a Saudi Arabian producer said, “We are keeping our prices flat on the week for now, while minor increases are likely to emerge for next month. We are considering updating our list prices later this week.” In China, a regional producer already issued $15/ton increases for their August PE shipments, pointing to their limited LDPE supplies.
According to ChemOrbis Price Index, the import PE market in Turkey hit the lowest levels of almost a year for LLDPE film on a weekly average. The levels for HDPE and LDPE film pointed to a 17-month and 19-month low, respectively, the data showed.
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