Middle Eastern PE offers post hefty drops for Jan in Turkey
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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