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Local PP raffia prices ease on high end in Turkey

by ChemOrbis Editorial Team -
  • 16/03/2015 (10:25)
In Turkey, players report that local homo PP prices have eased on the high end when compared to last week due to slower demand, which is mainly stemming from a larger number of incoming cargoes and the record high dollar.

Last week, local homo PP raffia prices were reported at $1735-1800/ton on an ex-warehouse, cash including VAT basis for prompt cargoes. This week two distributors who were offering on the high end last week reported offering at $1750/ton with the same terms. “The market may soften a bit since demand slowed down. The stronger dollar has significantly hampered market activity,” commented a distributor.

Another distributor said, “We have sufficient stocks for now and we are ready to offer at $1750/ton and below for firm bids. The market is clearly stagnant.”

Players also reported softer levels for incoming Turkmen cargoes with delivery in April last week. “They were being offered at $1680/ton two weeks ago, while they became available at $1640/ton last week,” said a buyer in South Turkey.

The overall range for locally held PP raffia is yet to be shaped for this week while initial reports call for prices as low as $1700/ton ex-warehouse, cash inc VAT. Petkim, who announced consecutive increases on PP since late January, have not come up with new price announcement so far this week either.
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