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Import PP prices hit $1000/ton for various origins in Turkey

by ChemOrbis Editorial Team -
  • 14/01/2015 (13:45)
In Turkey, import PP prices saw a new wave of hefty drops this week, which pushed Saudi Arabian and Iranian homo PP cargos to or even below the $1000/ton threshold. Following the recent losses, Turkey’s import PP market sank to its lowest level since June 2009, according to data from ChemOrbis Price Index.

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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