New import PP prices emerge in Turkey for December
Saudi Arabian PP raffia offers stand between $1300-1400/ton CIF Turkey, subject to 6.5% customs duty, cash. The range plunged $90/ton on the low end when compared to the last week of November. Saudi Arabian PP fibre emerged at $1365-1420/ton on CIF equivalent basis, down $40/ton on the high end.
A global producer who offers at the high end of the overall Saudi fibre range stated, “We are standing firm on our offers for now, although we can’t really sell at our current levels.” A bcf converter reported purchasing some PP fibre from a Saudi Arabian major at $1390/ton CIF, down $130/ton from his last deal with the supplier in early November.
Meanwhile, Saudi Arabian BOPP prices were quoted between $1400-1420/ton CIF Turkey, subject to 6.5% customs duty, cash for materials of various suppliers. A producer offering at the high end received a counter bid at $1380/ton. A buyer, meanwhile, reported receiving a Saudi Arabian offer at $1350/ton for a large tonnage. European BOPP offers were reported at €1150-1170/ton ($1425-1448/ton) CIF, cash. A global producer concluded a deal at the low end after conceding to a €20/ton drop from their initial announcement during the PlastEurasia fair being held in Istanbul this week.
Israeli PP fibre was offered at $1450/ton CIF Turkey, cash not subject to duty which represented a $100/ton decrease from mid-November.
Iranian PP prices broke below the $1400/ton CPT threshold for both raffia and fibre on the low end towards the end of the week. Subject to 6.5% customs duty, Iranian raffia moved down to $1385/ton, while fibre was reported as low as $1390/ton, all on cash.
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