Saudi Arabian major applies lower April PE prices to Turkey

In Turkey, a Saudi Arabian major revealed its new PE prices for April with decreases from last March levels. According to buyers, the producer cut its prices by $10/ton for LLDPE and $30/ton for HDPE film to $1290/ton and $1270/ton, respectively, FCA Turkey, subject to 6.5% customs duty, cash.

Initial responses to the newly announced levels emerged before long, with manufacturers who received new prices from the major saying, “We found the supplier’s most recent offers unworkably high as it was the case in March. We are planning to wait and hear April prices from other Middle Eastern sources before setting our next purchasing plan. Plus, we prefer to see fresh PE prices from Iran as they are expected to emerge by early next week following the Newroz Holiday.”

Prior to the Saudi Arabian source’s announcement, a different Middle Eastern producer issued decreases of $70-80/ton for LDPE grades and $50-60/ton for HDPE and LLDPE film due to discouraging demand in Turkey ahead of the referendum that will take place on April 16th.