LATEST NEWS: Mid-Eastern PE producer unveils Dec offers to Turkey

In Turkey, a Middle Eastern PE producer has announced their new December prices with monthly declines of $30-50/ton. The news was not caught by surprise by players considering lower upstream costs and muted demand heading to the year-end.

Accordingly, the producer’s recent list prices stand at $1060-1070/ton for LDPE, $1040/ton for LLDPE c4 film and $1170/ton for HDPE film, all on CFR Turkey, subject to 6.5% customs duty cash basis.

A company source reported, “We have achieved a few deals albeit for limited amounts. Although we don’t have large stocks, we may consider re-evaluating our initial prices depending on feedbacks and firm bids from our customers.”

A manufacturer noted, “Middle Eastern sources are likely to face downward pressure from aggressive American offers. Most sellers are trying to deplete their stocks before the new-year starts and supplies are smooth amid slow buying interest. Therefore, we believe that our supplier may concede to additional decreases on deals.”

A player also opined, “Further drops seem on the horizon especially for HDPE film based on visibly lower Mid-Eastern offers as low as $1060/ton CFR China.”

Meanwhile, US prices were quoted at $1040-1060/ton for LDPE, $970/ton for LLDPE and $1160/ton for HDPE film with the same terms above at the time of publication.