Tight PE in Europe propels exports of localized cargoes from Turkey
“We are not receiving any offers from Europe. Instead, our suppliers in Europe are asking for cargoes from us. So we have started to export locally held PE cargoes to Europe. Demand remains rather poor in Turkey and therefore, we are more focused on possible export opportunities these days,” commented a trader.
Another trader in Turkey also confirmed that European PE producers have no cargoes to offer to Turkey given the force majeure announcements.
According to ChemOrbis Price Wizard, supply tightness in the European PE market has caused the delta between Italy and Turkey to reach the highest levels seen since early 2013, which suggests that traders can potentially earn higher netbacks exporting to Europe rather than selling locally.
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