Skip to content

Filter Options
Text :
Search Criteria :
Territory/Country :
Product Group/Product :
News Type :
My Favorites:
 

Import PP, PE prices at 20-month-high in Turkey

by ChemOrbis Editorial Team - content@chemorbis.com
  • 07/03/2017 (15:28)
Players in Turkey report additional price gains for Middle Eastern PP and PE cargos in the import market this week. The persisting upward momentum is mainly supported by limited availability for PP while the prices on the upper ends are facing more visible resistance from buyers for PE so far.

In the PP market, Saudi Arabian PP raffia prices are reported at $1200/ton CIF Turkey, subject to 6.5% customs duty, cash, following deals at $1170-1190/ton last week. PP fibre offers moved up by $25-40/ton on the week to be given at $1240-1250/ton with the same terms.

“March PP hikes have been supported by the ongoing supply limitations from Europe and the Middle East. Moreover, the disrupted shipments from Iran ahead of Newroz Holiday exacerbated the tightness in Turkey recently,” commented a large trader.

According to ChemOrbis Price Wizard, the import homo PP market reached the highest levels in 20 months on a weekly average. The market is currently carrying a premium of about $160/ton over import prices in China following the recent price gains, the data shows.

In the PE market, meanwhile, after a Saudi Arabian major pioneered new March prices with $40-50/ton hikes, more Middle Eastern sources approached the market with higher offers. Overall, the latest prices stand at $1350-1370/ton for LDPE film, $1260-1270/ton for LLDPE c4 film, $1210-1250/ton for HDPE film and $1180-1200/ton for HDPE b/m (small container), all CIF Turkey equivalent, subject to 6.5% customs duty, cash. Some players heard LDPE film deals at $1330/ton, meanwhile.

A Middle Eastern producer admitted, “We concluded some PE deals close to our initial March prices. However, it has been difficult to compete with other origins that provide a more competitive edge.” A trader opined, “We don’t think the upper ends will work as rather sufficient supplies from Iran despite the nearing Newroz along with moderate demand will allow smaller hikes to pass on transactions.”

Turkey’s import LDPE film market also hit the highest levels of 20 months on a weekly average, with a premium of $150/ton over China, according to ChemOrbis Price Index. HDPE film prices, which are highest since November 2015, also point to a delta of around $135/ton with China, while LLDPE prices have hit a 19 month-high recently and carry a premium of the same amount over that market.
Free Trial
Member Login