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New Mid-Eastern PP, PE prices become clearer in Turkey

by ChemOrbis Editorial Team -
  • 06/09/2016 (16:43)
In Turkey, PP and PE suppliers started to express their initial September prices. The recent announcements indicated increases, particularly for PP, while PE saw rollovers to price hikes month over month.

A Saudi Arabian major revealed its new offers at $1150/ton for HDPE film with rollovers and at $1180/ton for LLDPE c4 film with $30/ton increases from late August levels, all FCA Turkey, subject to 6.5% customs duty, cash. Today, a packager reported receiving HDPE film and LLDPE c4 film prices respectively at $1160/ton and $1140/ton with the same terms.

An agent of a different Saudi Arabian supplier offered stable to $10/ton higher levels for LDPE film on the week after revealing their initial prices late last week. The seller’s most recent deals were at $1160-1170/ton CIF, subject to 6.5% customs duty, cash.

Other Middle Eastern origins were priced at $1160-1180/ton for LDPE film, $1140/ton for LLDPE c4 film and $1100-1150/ton for HDPE film. The ranges on CIF Turkey, subject to 6.5% customs duty, cash basis were up by $10-20/ton from last week.

Meanwhile, a global PP and PE producer revealed their fresh offers for Saudi Arabian cargos with increases citing their limited September quotas to Turkey. Accordingly, the seller offered homo PP grades between $1040-1050/ton and at $1180-1200/ton for LDPE film, CIF, subject to 6.5% duty, cash. “Our prices form the upper ends of the country’s import ranges and see limited buying interest and demand has not changed much in general in Turkey. However, we don’t feel any stock pressure and thus we stand firm on our prices for now,” a producer source noted.

A source at a Saudi Arabian polyolefins producer reported, “We raised our homo PP prices by $20-30/ton from August and rolled over HDPE grades. Our plant will be offline due to a turnaround in October and November. That’s why we are not aggressive in the market. We expect demand to be good this week as buyers may make some purchases before entering the holiday.” The producer’s prices stood at $990/ton for PP raffia CIF Turkey and between $1170-1180/ton for HDPE film and blow moulding, FCA Turkey, all subject to 6.5% customs duty and cash basis.

Players in Turkey diverge in their opinions about the firmer trend for PP and PE heading to the Eid Holiday. Some players think that the market will not digest any significant hikes given still moderate end markets for some applications because of the ongoing impact of political and economic issues in the country. Plus, several manufacturers will shut their factories for holidays, they remind. However, some sellers are confident about seeing improved demand, particularly once the holiday ends, and they also point to high energy and monomer costs in Asia as a supportive factor.
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