R-PET Flake - Turkey January 2019
Players reported that local offers for R-PET Flake (clear/blue) declined byTRY200-250/ton ($37-47/ton) from December to TRY4800-5250/ton ($899-984/ton with the recent parity) ex-warehouse Turkey, cash excluding 18% VAT.
Local offers for R-PET Flake (green) stood at TRY4500-4800/ton ($843-899/ton with the recent parity) with the same terms.
“Demand from export markets, particularly for film makers, remained depressed as the new-year holiday mood was extended to the first weeks of January. Some flake sellers tried to melt down their existing stocks since they needed cash to procure bottle bales,” highlighted a PET Flake seller.
Not only thin exports but also competitive virgin PET prices exerted pressure on PET Flake prices. “Our customers justified their lower bids with low virgin prices. Nonetheless, we hope tight bales supplies to counterbalance muted trade next month,” noted a supplier.
On a side note, manufacturers are expected to focus on their exports during February and March as demand outlook is considered unpromising in the domestic market based on elections in March. “Players will probably be reluctant to make business on deferred payment basis and would turn to export markets instead where they are able to trade on cash,” opined participants.
R-PET flakes are often used in sheet, yarn and fibre production.
Note for subscribers: ChemOrbis has revised news title as “Turkey R-PET Flake Update” starting from January 22, 2019.
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