Import homo PP raffia trades almost at par with fibre in Turkey
In the meantime, the delta between homo PP fibre and raffia has melted down due to a number of conditions in the import market, although fibre prices are expected to carry a small premium of around $20-30/ton over raffia under balanced market conditions. According to ChemOrbis Price Wizard, average PP fibre prices have even moved slightly under raffia recently after this premium grew as much as $60-70/ton in the past one year.
When it comes to the reasons behind this situation, first and foremost, sellers have been seeing better demand for their September PP raffia cargos than fibre grade. “Many fibre converters secured their needs right before leaving the market for the long holidays at the end of August. Another reason behind the calm fibre demand appears seasonal,” traders concurred.
A large scaled homo PP consumer in Turkey affirmed, “End markets are performing better for PP raffia nowadays as it is the high season for sack manufacturers. On the other hand, carpet manufacturers are mostly covered, and the persisting warm weather conditions and the fading wedding season weigh down on the carpet sector.”
A large trader stated, “We already sold out our limited Saudi Arabian raffia and fibre allocation at almost the same prices for this month. Our sales for raffia were smoother than for fibre in tandem with the fact that raffia supply is tight given the lack of certain sources. On the other hand, prompt fibre supplies in warehouses are said to be sufficient.”
In the last few days, some traders reported facing issues regarding the consulate approval for Iranian origins. Similarly, a player opined that the lack of Egyptian source in the raffia market in the recent couple of months has resulted in reduced availability since it was supplying around 5,000 tons of material per month at competitive prices to Turkey.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Major LDPE markets touch multi-year highs on growing tightness
- A prospect for Q4 through uncharted waters of 2020 amid pandemic
- China's import PP markets maintain uptrend under shadow of oil-driven losses in Dalian futures
- Weaker domestic demand prompts Vietnam to export polymers
- European PP market ceases upward trend in September
- Force majeure declarations rock the boat in Turkish PVC market
- China’s PE uptrend fueled by US force majeures; LDPE soars to more than 1-year high
- Stats: China’s cumulative PP imports in Jan-July 2020 reach record-high
- Sept PP, PE trend begins to take shape in Saudi Arabia
- Sept expectations voiced in Europe; ABS draws rosier picture than PS