Turkey PET Flake Update for December
Players reported that local offers for PET Flake (clear/blue) mostly centered at TRY5000-5500/ton ($953-1049/ton with the recent parity) ex-warehouse Turkey, cash excluding 18% VAT, down TRY200-400/ton ($38-76/ton) from November. The level of TRY4800/ton ($915/ton) was also available in a few cases in response to lower counter bids replaced by buyers.
Several Turkish buyers postponed their procurements to January as they were busy with the year-end book closures.
“The year-end slowness outweighed the seasonally tight supply of post-consumer bottles. Many buyers were sidelined this month as the appreciation of Turkish lira against USD hindered their competitiveness in export markets,” highlighted a PET Flake seller.
A buyer similarly noted, “Europeans started to close their activities earlier while export cargoes found their way to the domestic market instead. Firmer expectations for PET Flake were delayed to the new-year as USD gained some ground recently. Yet, we don’t expect prices to see TRY6000/ton ($1144/ton) level.”
PET flakes are often used in sheet, yarn and fibre production.
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