Indian PP producer expresses higher sell ideas to Turkey

Turkey’s import PP market was on a bullish trend during February with rapid increases from regular suppliers. Supply limitations from main sources including for Saudi Arabian, Iranian and Egyptian origins coupled with vivid activity gave an upper end to sellers and forced buyers to accept higher PP prices.

Regarding March, some players expect to see further increases albeit for relatively modest amounts compared to February if the current fundamentals remain unchanged.

An Indian producer has recently voiced higher sell ideas for homo PP raffia and injection at $1200/ton CIF Turkey, subject to 3% customs duty, cash.“We do not have any offers to Turkey for this week, but we may bring our homo PP prices to $1200/ton level next week as the market tracked an upwards trend since our last done deals.” The producer had last concluded deals at $1100/ton CIF Turkey, cash at the start of February.