Indian PE prices surface at competitive levels in Turkey
by ChemOrbis Editorial Team - content@chemorbis.com
PE converters in Turkey have reported receiving attractive Indian offers for various grades recently following the recent start-up of the new plants in the country, as it has been the case in China since the end of October.
Accordingly, Indian cargos were offered between $1160-1200/ton for LDPE film CIF Turkey, subject to 3% customs duty, cash depending on the quality. LLDPE c4 film showed up at $1150/ton with the same terms, meanwhile. All these levels stood at or close to the low ends of the market.
A pipe converter purchased Indian HDPE pipe 100 (natural) at as low as $1260/ton with the same terms. “Indian PE cargos provided a competitive edge owing to their lower duty compared to other dutiable origins. They were also below the latest November offers given for duty-free Korean or Egyptian materials,” said the buyer.
Other offers that are subject to 6.5% customs duty, most of which were given for Middle Eastern origins, were priced at $1220-1240/ton for LDPE and $1160-1170/ton for LLDPE on CIF Turkey, cash basis. HDPE pipe 100 (natural) was offered at $1380-1390/ton FCA, meanwhile.
Turkey’s PE market has been on a bearish trend for the last one and a half month due to waning demand from manufacturers given sufficient inventories, discouraging end product markets and the weak Turkish lira. Import PE prices remained on a stable to softer path for another week in contrast to slightly recovering sentiment for PP recently.
Accordingly, Indian cargos were offered between $1160-1200/ton for LDPE film CIF Turkey, subject to 3% customs duty, cash depending on the quality. LLDPE c4 film showed up at $1150/ton with the same terms, meanwhile. All these levels stood at or close to the low ends of the market.
A pipe converter purchased Indian HDPE pipe 100 (natural) at as low as $1260/ton with the same terms. “Indian PE cargos provided a competitive edge owing to their lower duty compared to other dutiable origins. They were also below the latest November offers given for duty-free Korean or Egyptian materials,” said the buyer.
Other offers that are subject to 6.5% customs duty, most of which were given for Middle Eastern origins, were priced at $1220-1240/ton for LDPE and $1160-1170/ton for LLDPE on CIF Turkey, cash basis. HDPE pipe 100 (natural) was offered at $1380-1390/ton FCA, meanwhile.
Turkey’s PE market has been on a bearish trend for the last one and a half month due to waning demand from manufacturers given sufficient inventories, discouraging end product markets and the weak Turkish lira. Import PE prices remained on a stable to softer path for another week in contrast to slightly recovering sentiment for PP recently.
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