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Saudi Arabian PP raffia prices retreat in Turkey

by ChemOrbis Editorial Team -
  • 12/05/2016 (14:23)
In Turkey, homo PP prices have been retreating since early May as buying appetite has been thin, particularly for raffia grade, while supplies are comfortable. Many buyers report having sufficient inventories as they purchased beyond their needs during the bullish trend in February and March.

In the import market, Saudi Arabian PP raffia cargos are priced at more competitive levels compared to last week. The price range stands at $1010-1040/ton CFR Turkey, subject to 6.5% customs duty, cash, down $30-40/ton. A few buy ideas are reported at $1000/ton though sellers complain about scarce firm bids from converters.

“Sack makers bought huge amounts of material in February and their materials are still coming. All sellers are asking about our firm bids these days,” a buyer stated. A big bag converter commented that the local PP market is more attractive and thus he is not interested in Saudi Arabian cargos in the import market. A sack maker, who is not in the market amidst weak expectations, said he may return to the market by June.
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