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Saudi Arabian major steps back from October PE prices in Turkey

by ChemOrbis Editorial Team -
  • 12/10/2017 (11:57)
Middle Eastern PE producers approached Turkey’s import market with monthly increases in October in line with the globally strong trend. A Saudi Arabian major, however, adjusted its initial price levels down by $20/ton this week due to lackluster demand heading to the year end. The producer had initially sought hikes of $10-30/ton for LLDPE and $40-60/ton for HDPE for the month.

“The bullish trend has toned down this week due to unsupportive PE demand in the country amidst a jump in the USD parity early this week. Lower spot ethylene costs in Asia along with the stable to soft return of China’s PE market, except for HDPE, following a week long National Day holiday caused Turkish buyers to keep their purchasing volumes to the bare minimum,” players commented.

The Saudi Arabian producer’s recent prices were reported at $1240/ton for LLDPE c4 film and $1220/ton for HDPE film, FCA Turkey, subject to 6.5% customs duty, cash.
The prevailing Mid-Eastern price ranges are currently reported at $1260-1280/ton for LDPE film, $1200-1220/ton for LLDPE and $1180-1200/ton for HDPE film, all CIF Turkey, subject to 6.5% duty, cash, unchanged on the week.
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