Middle Eastern PE producers unveil Dec prices to Turkey
A major Saudi Arabian producer announced its new offers at $1160-1180/ton for LLDPE c4 film and $1180/ton for HDPE film, FCA Turkey, subject to 6.5% customs duty, cash. Buyers reported that the supplier kept its offers unchanged month over month citing its limited availability. “The supplier will not have prompt material until mid-December in its bonded-warehouse and told us that they may not supply the regular amounts to their contract based customers for the month,” a packager said.
A global producer issued a drop of $10/ton on its Saudi Arabian LDPE film price bringing its offer to $1220/ton CIF Turkey, subject to 6.5% customs duty, cash. The producer cited depressed activity in Turkey heading to the year end, saying, “We feel sales pressure nowadays and we may consider giving moderate discounts if purchasing volumes remain limited.”
A different Middle Eastern PE source lowered its prices by $30/ton from last November levels. The seller’s recent offers are at $1210/ton for LDPE film, $1220/ton for LDPE general purpose, $1120/ton for LLDPE c4 film and HDPE film, $1110/ton for HDPE blow moulding, all CIF Turkey, subject to 6.5% customs duty, cash.
A producer source stated, “Although we achieved slightly better sales after our adjustments, overall demand is visibly dampened in Turkey by currency problems and cash constraints. Plus, supply is not as limited as before owing to irregular origins showing up heading to year-end. Hence, we believe rising oil costs would only limit the drop amounts but no upturn is likely before January.”
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