Middle Eastern PE offers start to surface lower for Dec in Turkey
by ChemOrbis Editorial Team - content@chemorbis.com
Turkish players have reported receiving December Middle Eastern PE offers from a couple of producers. The latest price levels indicated decreases of $60-70/ton as compared to November. Accordingly, initial LDPE, LLDPE and HDPE offers stand at $1700-1720/ton, $1540-1550/ton and $1440-1450/ton, all CIF Turkey, subject to 6.5% customs duty, cash.
A source from a Middle Eastern producer reported, “We have achieved some sales with our regular customers during Plast Eurasia amid our limited allocations. Nonetheless, the year-end lull and adverse impact of the sharply lower lira has been weighing on trading activity in Turkey.”
Meanwhile, a Saudi Arabian PE supplier intends to return with $50/ton drops for the new month, said sources. Some players noted that a couple of producers intends to approach the market with rollovers initially, saying, “We don’t think sellers can achieve stable deals as the market has shifted down and financial woes may keep purchases on needs-only basis for a while more.”
A source from a Middle Eastern producer reported, “We have achieved some sales with our regular customers during Plast Eurasia amid our limited allocations. Nonetheless, the year-end lull and adverse impact of the sharply lower lira has been weighing on trading activity in Turkey.”
Meanwhile, a Saudi Arabian PE supplier intends to return with $50/ton drops for the new month, said sources. Some players noted that a couple of producers intends to approach the market with rollovers initially, saying, “We don’t think sellers can achieve stable deals as the market has shifted down and financial woes may keep purchases on needs-only basis for a while more.”
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