Import PP prices hit $1000/ton for various origins in Turkey
Currently, Saudi Arabian PP raffia offers are reported between $1000-1070/ton CIF Turkey equivalent, subject to 6.5% customs duty, cash so far this week. This range is down $55/ton on the low end and $30/ton on the high end from last week, when prices had started from $1055/ton. In the meantime, Saudi Arabian PP non-woven was sold at $1080/ton while BOPP was offered as low as $1050/ton, all on CIF Turkey, subject to 6.5% customs duty, cash basis.
Iranian PP raffia had been last reported at $1050/ton CPT Turkey, subject to 6.5% customs duty, cash last week before prices declined another $50/ton to stand $1000/ton with the same terms this week. A sack maker voiced buy ideas as low as $950/ton for this origin. Iranian PP fibre already broke below $1000/ton CPT threshold to be reported at $980-1000/ton so far. The range represents a $20-100/ton decrease on the week.
Moreover, even non-dutiable PP materials were talked at around $1000/ton this week, which could exert extra pressure on dutiable cargos. A converter reported receiving a PP raffia price from the domestic producer, Petkim, as low as $1050/ton FD, cash not inc VAT, while another one was offered Turkish PP fibre at $1000/ton with the same terms. Egyptian PP, which has been priced at quite attractive levels for the last couple of months, was last reported at $1050/ton DAP, cash no duty. Although some players reported that they have heard offers as low as $1000/ton recently for this origin, a seller of Egyptian cargos stated, “We have received bids at $1000/ton DAP but we did not concede to this level.”
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