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Recycled Polymers - Turkey March 2020

by Merve Sezgün - msezgun@chemorbis.com
  • 31/03/2020 (08:48)
Month: March 2020
TRY/ton TRY/ton
Recycled Grades Min Max
R-PET Flakes Clear/Blue 4600 5000
R-HDPE Black PE100 (PIR*)45005000
R-HDPE Blue (PCR**)42005000
R- HDPE Black (PCR**) 35004000
R-LDPE Film Clear (PIR*)45005300
R- LDPE Film White (PCR**)35004500
R-LDPE Film Honey Colour (PCR**)28003400
R-LDPE Film Black (PCR**)23003000
R-PP Injection Natural (PIR*)52006000
R-PP Coloured (PCR**) 35004500
R-PP Black Injection (PIR*)30004000
R-PP Black (PCR**)20002750

* (post-industrial recycle)
** (post-consumer recycle)

To see virgin polymer prices, click here .

R-PET Flake prices up for 3rd straight month

According to Turkish players, R-PET Flake prices maintained their upward trend for the third straight month, albeit at a slower pace under the gloomy economic atmosphere amid COVID-19 impact.

The market was unfazed by an oil collapse earlier in March as this was mitigated by firm bale prices, active packaging and sheet demand as well as disrupted imports amid widespread logistic issues and lockdowns. “The appreciation of the USD against the TRY also prevented large discounts this month,” a seller marked.

Players affirmed, “Bale prices were propped up by a lack of supply since local municipals banned bottle collections on streets in many cities in order to contain the spreading of the new coronavirus.”

On the side of demand, R-PET Flake sellers reported seeing healthy demand from sheet and packaging industries owing to increased consumption as part of tight virus measures.

For the outlook, most players are shying away from making certain predictions regarding April as woes over cash constraint and economic obstacles may weigh on the market.
Meanwhile, virgin PET bottle prices in Turkey followed a bearish path throughout March, dragged down by falling upstream chain and export prices out of Far East Asia.

R-HDPE prices stable in March, sentiment weakens

March prices for most R-HDPE products were rolled over from February. However, the market sentiment took a hit from the spreading coronavirus outbreak particularly in the second half of the month.

Players reported that scrap costs were higher amid limited supply, and now deliveries from Europe were a question mark due to disrupted logistics. “R-HDPE prices are stable as higher costs and limited demand have offset each other so far,” a seller said.

A recycler noted, “We kept our prices for post-industrial R-HDPE stable for March in spite of higher raw material costs. Demand from some bottle manufacturers has increased, yet orders from other sectors have almost stopped due to COVID-19. Prices for virgin HDPE film and blow moulding are decreasing, which may weigh on the recycled market in April.”

“High season for pipes is approaching, however demand might remain below expectations in April given the current situation. Still, suppliers may be reluctant to give large discounts due to the depreciation of the Turkish lira against the USD,” another recycler added.

R-LDPE continues to face downward pressure

R-LDPE prices continued to follow a stable to softer trend in March in the midst of reduced demand and comfortable supplies. On a monthly basis, the overall price ranges indicated rollovers or decreases of around TRY200/ton.

“The market remains under pressure from a combination of ample supply and weak demand. Orders from several Asian countries have been hit hard by the COVID-19 outbreak. Additional discounts are still obtainable in the local market. If China returns in April, the market may find a bright spot,” commented a recycler.

Another recycler also noted, “The crude oil plunge has pushed virgin LDPE prices lower across the globe, which will eventually affect the sentiment for recycled products. Buyers stay sidelined in anticipation of seeing further price cuts. However, we are struggling to reduce our offers as scrap costs remain firm.”

Tightness keeps R-PP market firm

Players reported that R-PP prices were mostly unchanged for March as tight supplies kept the market stable despite the fact that demand slightly reduced amid the COVID-19 outbreak. “We have even seen price hikes in some cases,” a player noted.

Some recyclers who procure scraps in USD terms said that their costs have increased due to the depreciation of the Turkish lira against the US dollar.

A recycler opined, “Higher costs combined with tight R-PP supplies have propped up the market. Our March offers for post-industrial R-PP grades are stable. Virgin PP prices have decreased given the oil plunge and the coronavirus outbreak. However, this may have a limited impact on the recycled PP market, we believe.”

A second recycler reported that they implemented an increase of TRY250/ton on R-PP offers at the start of the month. “The sentiment is not as strong as it was in early March. The spread of COVID-19 in Turkey has affected businesses. On the other hand, tight supply for R-PP is offsetting the impact of the coronavirus on demand,” he said.

NOTE: As you know, last week we launched our Recycled Polymers price indexes covering Turkey and Europe in an effort to provide a more comprehensive coverage for you. We are happy to announce that starting from April 2020 we will also start publishing our Monthly Recycled Polymers Report under a dedicated section instead of plastics news as we used to do until now.

If you want to continue reading our Monthly Report for Recycled Polymers or access the Recycled Polymers Price Indexes, please contact your account manager or send an email to content@chemorbis.com so that we can get one to contact you.
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