PP raffia demand improves in Turkey
Some suppliers reported that buying interest for PP raffia has picked up recently and they were receiving more price inquiries in tandem with gradually rising prices.
A sack manufacturer affirmed that the increases from Petkim on Monday also affected the market and pushed prices up for locally-held PP. “Sellers are not offering much quantity blaming their limited availability,” the buyer added. Following the $40/ton hikes from the domestic producer, the prevailing PP raffia range is reported at $1420-1480/ton ex-warehouse Turkey, cash inc VAT, well above last week.
A different manufacturer reported, “PP raffia demand has improved as material from Iran was reported to be tight. Although we still have a long way to go, Newroz holidays started to arouse supply concerns among market players. Furthermore, freight rates from Iran increased which is expected to lend support to the increasing prices for both PP raffia and fibre.”
A distributor revealed firmer expectations for March as well, saying, “We have no plan to step back from our current levels. Freight costs from Iran have doubled and the holiday in Iran that will take place next month is also expected to disrupt transportation to Turkey which are likely to keep the market firm.”
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