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Middle Eastern PE offers post hefty drops for Jan in Turkey

by ChemOrbis Editorial Team - content@chemorbis.com
  • 30/12/2014 (13:52)
In Turkey, a few converters reported receiving fresh January PE offers from a major Saudi Arabian producer. The producer’s recent offers represented decreases of $100-120/ton for LLDPE c4 film and $160/ton for HDPE film from their latest December levels. Buyers reported receiving initial prices at $1340/ton for LLDPE c4 film and $1350/ton for HDPE film, FCA Turkey, subject to 6.5% customs duty, cash from the seller. A converter commented that the source may adjust their prices downward again following the New Year holiday. However, another buyer thinks that the seller may remain adamant at their initial announcements given their lack of comfortable availability.

A different Saudi Arabian producer revealed their new offers at $1300/ton for LLDPE c4 film and $1320/ton for HDPE film, FCA Turkey, subject to 6.5% customs duty, cash. “We reduced our prices by $130/ton for HDPE and by $150/ton for LLDPE,” a producer source noted. A third producer revealed their new HDPE film price at $1350/ton with the same terms, down $100/ton month over month.

Meanwhile, more competitive Saudi Arabian offers for LLDPE c4 film and HDPE film at $1230/ton CIF Turkey, subject to 6.5% customs duty, cash were available in the market, according to a trader.

Offers and sell ideas for Qatari PE cargos emerged with noteworthy drops in Turkey’s import market late last week. Initial prices were pegged $50/ton below last month at $1250/ton for LDPE and at $1240/ton for LLDPE and HDPE film CIF Turkey, subject to 6.5% customs duty, cash, before they were revised down further this week to $1220/ton and $1190/ton, respectively. Sell ideas as low as $1210-1230/ton for LDPE and $1190-1200/ton for LLDPE had been voiced last week.

A seller commented, “Our customers are seeking to renegotiate prices for cargoes on the way. We do not expect the market to stabilize before March.” Another seller commented, “We think that LLDPE will break below $1200/ton while LDPE will be priced at around $1200/ton. $1230-1250/ton may be a good price for now, but may be found high in the coming week.”
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