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Local homo PP prices ease down in Turkey

by ChemOrbis Editorial Team -
  • 28/07/2016 (13:40)
In Turkey, locally-held PP prices softened, particularly on the low ends, this week as low buying interest forced distributors to step back from their pre-holiday price targets. PP raffia prices broke below $1300/ton on the low end since late last week amidst competitively priced Uzbek materials.

The prevailing homo PP ranges stand at $1280-1350/ton for raffia, $1340-1360/ton for fibre and $1320-1360/ton for injection grade, all ex-warehouse Turkey, cash inc VAT. These levels represent decreases ranging between $10-30/ton when compared to last week.

Sellers concur that there are cash flow issues in the market and most buyers prefer to buy according to their urgent requirements and on deferred payment basis.

“The PP market is calm while we met our needs from the domestic market earlier this week. Prices are softer in line with limited purchasing activity and weaker crude oil prices,” a carpet manufacturer noted.

A raffia converter reported receiving lower offers compared to last week. “We believe that prices may come down in the days to come now that energy costs are falling and dollar parity is high,” the buyer argued.

A distributor stated, “Overall demand is moderate since last week given the recent political developments in Turkey. We try to be adamant at our prices but as the firming trend stopped, we slightly adjusted our prices down compared to last week in order not to miss any chance to sell.”
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