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Middle Eastern PE producers issue October prices to Turkey

by ChemOrbis Editorial Team - content@chemorbis.com
  • 29/09/2017 (16:58)
New PE prices from the Middle East started to be announced in Turkey this week, while initial offers represented increases from last September deals, as already expected. Three regional producers are now seeking hikes mostly between $30-70/ton, according to buyers.

“A Saudi Arabian major revealed hikes of $10-30/ton for LLDPE and $40-60/ton for HDPE. We were not surprised by the announcements considering the ongoing support from high ethylene costs and still better netbacks in other global markets,” a manufacturer noted. The producer’s October offers stood at $1260/ton for LLDPE c4 film and $1240/ton for HDPE film, FCA Turkey, subject to 6.55 customs duty, cash.

A Middle Eastern producer also issued $30-50/ton increases for LDPE and LLDPE while raising its HDPE film offers by $70/ton amidst generally limited supply for this grade. “We expect demand from Chinese buyers to resume after National Day holiday. We think that the PE market will remain firm throughout October,” noted a producer source. The sellers’ list prices were at $1280/ton for LDPE, $1220/ton for LLDPE and $1200-1210/ton for HDPE film, CIF Turkey, subject to 6.5% customs duty, cash.

A global polyolefin producer similarly lifted its list offers for Saudi Arabian LDPE by $30/ton for October shipments, citing its limited allocations for another month. The seller’s recent LDPE film prices were reported at $1270/ton CIF Turkey, subject to 6.5% customs duty, cash.
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