Local PP, PE prices fall further in Turkey
The prevailing homo PP raffia range stands at $1300-1370/ton ex-warehouse Turkey, cash inc VAT, down $20-30/ton from last week. A converter commented, “Buyers are not in the market and thereby, locally-held PP raffia prices did not break below $1300/ton yet. However, if sellers can get bids next week, we expect to hear prices below this threshold soon.” A distributor reported revising his prices downward, saying that there is no supply issue in the market these days and demand is poor.
So far this week, PE price ranges are visibly down at $1620-1640/ton for LDPE film, $1440-1470/ton for LLDPE c4 film and $1440-1500/ton for HDPE film ex-warehouse Turkey, cash inc VAT. HDPE blow moulding, for which supply is considered ample, is offered between $1420-1460/ton amidst more significant drops. Prices above the $1500/ton threshold have become quite scarce given muted buying activity.
“Distributors are trying to clear their stocks nowadays and are conceding to discounts on cash basis. We hear very competitive prices, particularly for HDPE film and blow moulding,” a seller of PP and PE argued. Despite rising crude oil prices, expectations for both products call for lower prices in Turkey due to expectations of softer demand ahead of Ramadan.
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