LATEST NEWS: Initial Mid-East PE offers surface for April in Turkey
by ChemOrbis Editorial Team - content@chemorbis.com
Players in Turkey have started to report initial Middle Eastern PE offers as April kicked in. Accordingly, a regional supplier applied decreases of $70-100/ton depending on the product when compared to last March levels.
The producer’s most recent offers stand at $850-870/ton for LDPE, 810-820$/ton for LLDPE and HDPE film, all CIF Turkey, subject to 6.5% customs duty, cash.
Players were already expecting to hear visible declines from the Middle East for April due to an intensifying downward pressure from plunging costs on a global scale, virus-hit demand in certain end product sectors in Turkey as well as more-than-a decade low PE prices in China.
Meanwhile, a Saudi Arabian producer reported concluding HDPE film and blow moulding deals at $800-820/ton CIF Turkey, subject to 6.5% customs duty, cash. These levels indicated decreases of $80/ton, at least, when a monthly comparison is made.
The producer’s most recent offers stand at $850-870/ton for LDPE, 810-820$/ton for LLDPE and HDPE film, all CIF Turkey, subject to 6.5% customs duty, cash.
Players were already expecting to hear visible declines from the Middle East for April due to an intensifying downward pressure from plunging costs on a global scale, virus-hit demand in certain end product sectors in Turkey as well as more-than-a decade low PE prices in China.
Meanwhile, a Saudi Arabian producer reported concluding HDPE film and blow moulding deals at $800-820/ton CIF Turkey, subject to 6.5% customs duty, cash. These levels indicated decreases of $80/ton, at least, when a monthly comparison is made.
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