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Local PP, PE markets ease down on muted demand in Turkey

by ChemOrbis Editorial Team -
  • 12/10/2017 (12:09)
Turkey’s local PP and PE markets were on a bullish trend since mid-July, driven by rallying import prices, limited allocations from mainstream import suppliers and satisfactory demand. In addition, Petkim’s consecutive hikes starting from mid-August undoubtedly contributed to the firming path.

Nonetheless, both PP and PE prices started to ease down as of early October in the midst of slackening demand.

“PP raffia supplies are not as limited as they were in the previous couple of months. Several converters purchased beyond their needs in the course of rapid hikes in September,” a seller stated. A bcf converter affirmed, “We prefer to meet our basic requirements from the local market as it would be risky to engage in long distance cargos that are due to arrive in November-December. Supply is plentiful these days.”

Homo PP raffia prices were reported at $1500-1540/ton ex-warehouse Turkey, cash inc VAT ($1270-1305/ton without VAT), while offers above $1540/ton mostly faded. Competitive PP fibre deals were concluded at $1490-1520/ton with the same terms after prices hit as high as $1590/ton almost a month ago.

As for PE, distributors sitting on comfortable stocks are more open to give discounts, which resulted in some softening on the lower ends of the local price ranges, according to players. “Particularly prompt LDPE availability is comfortable. Buying interest has been thin this month owing to the previous purchases of converters. We are open to negotiation for bids regarding considerable tonnages,” said distributors.

The local PE ranges were down by $20-30/ton at $1620-1660/ton for LDPE, flat at $1470-1540/ton for LLDPE and $20-30/ton lower at $1450-1520/ton HDPE film and b/m ex-warehouse Turkey, cash inc VAT compared to last week. They respectively come to $1373-1407/ton, $1246-1305/ton and $1229-1288/ton without VAT.
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