Korean HDPE pipe natural prices move up in Turkey
Players attributed the recent firming mainly to the rising freight rates from Korea. Also, supply from the country has not been sufficient in the recent weeks amidst a shutdown at KPIC that has just ended. “The producer has not fully resumed its deliveries, while SK has faced some shipment delays, in addition,” claimed a trader.
“We heard that freight rates from Korea spiked up to $80/ton this week. Although demand is not bright for PE in general, limited availability and higher transportation costs caused suppliers to issue higher HDPE pipe (natural 100) prices for the second half of June,” said a buyer who confirmed the rising offers. Another pipe manufacturer, meanwhile, thinks that limited business will restrain any firming for the coming days.
Currently, South Korean HDPE pipe (natural 100) prices are standing at $1270-1320/ton CIF Turkey, cash no duty, up $30-40/ton week over week. A pipe converter reported, “On Monday, we received an offer at $1260/ton before the supplier lifted its price up by $15/ton right the day after. Yet we don’t think prices can rise much more considering lower ethylene costs in Asia.”
Spot ethylene prices fell by around $60/ton on FOB Korea basis since the beginning of June due to increased supplies across the region and lower upstream chain.
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