PE fails to track buoyant PP demand in Turkey
A global polyolefin producer reported, “We are mulling over rolling over our PP prices for June while we are yet to decide on our new PE offers to Turkey amidst weaker atmosphere.” Initial Mid-Eastern PE prices emerged mostly with declines of $10-30/ton this week whereas import PP offers from the region showed a slight firming as rumor had it that supplies were not comfortable.
An Indian PP producer said they have received an increasing number of inquiries in the last few days as rollovers to slightly firmer attempts from suppliers caused converters to meet their requirements despite Ramadan. The agents of some Saudi Arabian suppliers also confirmed receiving more calls from their customers recently than in May, saying, “This must be due to the fact that decreases came to an end for PP by late May. Plus, supply is tight for homo PP injection, in particular.”
However, availability for Iranian HDPE film and b/m continues to be ample, according to players, which keeps weighing down on the PE sentiment. Buying interest for LLDPE is performing better than other grades in tandem with relatively limited prompt supplies in Turkey for this product, sellers concur though. “New import offers from the Mid-East emerged at stable to slightly lower levels for LLDPE versus more visible reductions for HDPE and LDPE, consequently,” commented a trader.
The Middle-Eastern price ranges are at $1190-1230/ton for LDPE, $1140-1160/ton for LLDPE c4 film and $1110-1120/ton for HDPE film, CIF Turkey equivalent, subject to 6.5% duty, cash, down week over week. Meanwhile, PP offers firmed up on the high ends given slightly higher June prices for Saudi origins at $1040-1070/ton for PP raffia and $1090-1110/ton for fibre with the same terms.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
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