Middle Eastern PE offers post further declines in Turkey
In Turkey, overall prices for Middle Eastern origins are currently standing at $1340-1410/ton for LLDPE film and at $1350-1430/ton for HDPE film, both on CIF Turkey, subject to 6.5% customs duty, cash basis. The ranges indicated decreases of around $40-50/ton on the low ends and $20/ton on the high ends from a week earlier. These came on top of the initial decreases reported early in the month that indicated monthly drops of $60-80/ton for the same origins.
A source from a Middle Eastern producer whose offers are standing on the high end for LLDPE reported that they are struggling to conclude deals as there are more competitive offers in the market.
“Our HDPE allocation has risen considerably recently while it is difficult to sell additional volumes to the Turkish market nowadays as demand is not so strong” reported a source from another Middle Eastern producer.
A converter also reported that in spite of lower prices, they do not plan to make new purchases as their business is also going slow.
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