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Local PP raffia breaks below new threshold in Turkey

by ChemOrbis Editorial Team - content@chemorbis.com
  • 25/05/2016 (16:56)
In Turkey, the locally-held PP raffia market posted additional drops this week on the top of the steady discounts that have been in place since mid-April. According to ChemOrbis Price Index, the distribution market has plunged by a cumulative amount of $100/ton for PP raffia on a weekly average basis since the start of the downturn.



Source: ChemOrbis Price Wizard

Presently, PP raffia prices from warehouses located in the south of the country have broken below $1300/ton inc VAT in line with declining import offers. The overall PP raffia range stands at $1270-1350/ton ex-warehouse Turkey, cash inc VAT. Buyers in Gaziantep reported receiving prices at $1280/ton for Iranian and Egyptian materials while a deal was concluded at $1270/ton.

Sack makers mostly expressed their unwillingness to purchase raw material this week citing their sufficient stocks, stagnant end business and the ongoing downwards trend. Some manufacturers in the Istanbul region also expect to hear prices below $1300/ton next week and prefer to remain on the sidelines. A distributor who offered close to the high end of the range blaming his costs said, “We are not able to sell at our current price level. Prices are likely to lose more ground in the days to come.”
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