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R-PET Flake - Turkey August 2019

by Merve Madakbaşı - mmadakbasi@chemorbis.com
  • 29/08/2019 (15:04)
Turkish players reported that stagnant demand remained on center stage throughout August in the wake of economic uncertainties and long holidays. Moreover, the downward trend for virgin PET, which has been in place since July, reinforced the weakness of flake prices.

The local R-PET Flake (clear/blue) prices were quoted at TRY4900-5300/ton ($840-908/ton with the recent parity) ex-warehouse Turkey, cash excluding 18% VAT. The overall range fell by TRY300-500/ton ($51-86/ton) from July. Some counter bids were talked at TRY4700/ton, although no deals were confirmed by primary sources.

A major participant commented, “Global markets have been largely influenced by muted activity due to holidays. A lack of healthy activity may be partially offset by the fact that flake availability is not comfortable and bale supplies are still moderate.” Meanwhile, some players argued that flake prices may firm up a bit in H2 September in case dollar continues to rise against TRY.

R-PET flakes are often used in film, sheet, yarn and fibre production.
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