R-PET Flake - Turkey May 2019
The local R-PET Flake (clear/blue) prices were quoted at TRY6100-6500/ton ($1007-1074/ton with the recent parity) ex-warehouse Turkey, cash excluding 18% VAT. The overall range rose by TRY400-800/ton ($66-132/ton) from April levels.
Bottle bale prices were up month over month at TRY3500-3600 in May, players noted.
“Some sellers tested the level of TRY6600/ton or even above although not many transactions were confirmed at those prices throughout the month. Dramatic falls in virgin PET prices capped further hikes on the high end of the market,” opined a buyer.
Coming to expectations, trend for May will be shaped by divergent factors of quite high bale prices, lower PET virgin market, economic and political uncertainties. The state of bale supply will play a key role in the setting of next month’s view as it is to be seen whether or not it will find a relief.
“We may be able to realize the market scene by mid-June, the earliest, considering shorter working days of this month amid Ramadan Festivities,” said a player.
R-PET flakes are often used in film, sheet, yarn and fibre production.
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