PPRC type 3 and HDPE pipe prices spike for Sept in Turkey
South Korean PP random copolymer pipe (type 3) offers emerged between $1360-1430/ton CIF Turkey, subject to 1% customs duty, cash, up $70-130/ton compared to August deals.
Iranian PPRC pipe (type 3) prices also hit $1500/ton FCA, subject to 6.5% customs duty, cash after deals were concluded as low as $1250-1270/ton CPT last month for this origin.
In the HDPE pipe (100) market, South Korean natural prices spiked $90-130/ton month over month to be recently reported at $1340-1430/ton CIF Turkey, cash no duty. Buyers confirmed that the low end disappeared as of the end of last week.
As for HDPE pipe (100) black, offers from regular South Korean suppliers came as high as $1460-1470/ton CIF, cash after they were mostly out of Turkey during August. Middle Eastern prices, meanwhile, were reported at $1330-1430/ton CIF, subject to 6.5% customs duty, cash, $50-100/ton above last August deals.
Buyers confirmed that the lower ends of the HDPE pipe (100) natural and black ranges gradually faded as many suppliers already sold out their limited September volumes by mid-month and voiced higher October sell ideas.
“Korean sources elected to direct their cargos to other destinations that provided higher netbacks than Turkey or they preferred to sell monomer instead of polymer amidst high ethylene and propylene costs in Asia,” a pipe manufacturer in Turkey stated.
Spot ethylene prices were up by $40/ton since September started to be reported at $1320/ton FOB Korea as of late last week, which were even above prices for some PE products in China. Spot propylene costs rose by around $75/ton to $945/ton with the same terms in the period.
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