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Saudi Arabian major announces May PE, PP prices to Turkey

by ChemOrbis Editorial Team - content@chemorbis.com
  • 05/05/2015 (16:07)
In Turkey, players reported that a major Saudi producer has announced their May PE and PP prices with three digit increases from their initial April levels. The producer’s new May offers indicate monthly increases of $100-140/ton for LLDPE, HDPE film and $100/ton for PP fibre.

Accordingly, the Saudi major’s new PE prices stand at $1500-1520/ton for LLDPE film and $1550/ton for HDPE film on an FCA Turkey, cash, subject to 6.5% duty basis. For PP fibre, the producer’s prices are at $1480-1500/ton CIF Turkey, cash, 6.5% duty.

According to players, the Turkish import PE market is firmer than PP as demand for PP is not that strong and PP buyers are showing resistance towards higher levels in order to maintain their margins.

For both products, meanwhile, regional suppliers are still claiming that supply from the Middle East and Europe remains tight, which would help the firming trend to remain in place in both the PE and PP markets for May. On top of persistently tight supplies, significant gains in feedstock costs both in Asia and Europe are also supporting a firmer outlook for the upcoming days, according to players.
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