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Saudi Arabian major reveals lower PE prices to Turkey

by ChemOrbis Editorial Team -
  • 03/12/2014 (13:37)
In Turkey, buyers reported receiving new December PE prices from a Saudi Arabian major with decreases of $50-70/ton from last month in line with the bearish trend in global markets. The producer’s most recent prices stand at $1510/ton for HDPE film and at $1460/ton for LLDPE c4 film, both on an FCA Turkey, subject to 6.5% customs duty, cash basis.

“We are not buying beyond our urgent needs as we expect to see additional drops in the PE market soon. Plus, our end product business remains unchanged,” stated a packaging converter who received these prices.

Another buyer purchased some material from the producer at their new price levels, saying that they are cautious with their purchase amounts given the ongoing decreasing trend and the low end product season. “The producer reduced their prices for the new month while they may not concede to additional drops as they don’t have comfortable supplies. Nonetheless, the PE market continues to face downward pressure as there are competitively-priced Iranian materials arriving to the market,” the buyer commented.
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