Turkey PET Flake Update for November
Many players confirmed that local offers for PET Flake (clear/blue) stood at TRY5400-5700/ton ($1008-1065/ton with the recent parity) ex-warehouse Turkey, cash excluding 18% VAT. The level of TRY5300/ton ($990/ton) was also available in some cases.
The recent falls were mainly attributed to relatively sluggish export business on part of converters. A major seller commented, “PET Flake prices faced a pressure from lower consumption on the side of end product exporters, whose business was dampened by the recent appreciation of TRY.”
Some market participants pointed to competitive import offers as another pressure point on the local PET Flake market.
Early expectations for December mostly call for an improvement in the market. A PET Flake producer projected, “We believe that prices may recover next month due to seasonal reasons. Bottle consumption is set to come down in winter and post-consumer bottle supplies will diminish. This would provide support for PET Flake prices.”
A buyer also voiced firmer expectations for next month, saying, “We think that local PET Flake prices may be revealed at or close to TRY6000/ton ($1120/ton).” Another one reported, “Supply of PET bottle bales at scrap dealers have already tightened this week which would probably push PET Flake offers visibly higher in December.”
PET flakes are often used in sheet, yarn and fibre production.
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