Turkey’s import HDPE pipe market dips to more than a-year low
by ChemOrbis Editorial Team - content@chemorbis.com
HDPE pipe prices were on a bearish trend since March 2018 mainly due to shrinking demand from manufacturers in tandem with a lack of new end business projects.
The market added to its notable price cuts in November amid unchanged demand status, with purchasing volumes remaining at bare minimum in the wake of ongoing cash flow issues, economic concerns and the approaching year end. Sharp declines in China also contributed to the falling trend.
According to ChemOrbis Price Index, the weekly average prices have hit almost two-year low for HDPE pipe 100 (black), for which activity has been severely dampened by economic challenges and suspended government projects earlier this year. HDPE pipe 100 (natural) offers also sank to 17-month low this week, data revealed.
On a side note, the premium of HDPE pipe black over natural grade has shrunk to around $22/ton on a weekly average this week, the narrowest figure in two years, since black grade faced more dramatic drops.
Another factor to push the market further south was aggressive South Korean import offers as they showed up with large decreases for December shipment cargos. Accordingly, Korean HDPE pipe (100) natural and black offers stood at $1230/ton and $1260/ton, respectively, CIF Turkey, cash no duty.
“China’s PE market remained indifferent to the rebound in spot ethylene prices in Asia amid lackluster demand, weak futures markets and lower energy prices. Thereby, Korean suppliers issued aggressive prices to Turkey already,” opined a player.
The market added to its notable price cuts in November amid unchanged demand status, with purchasing volumes remaining at bare minimum in the wake of ongoing cash flow issues, economic concerns and the approaching year end. Sharp declines in China also contributed to the falling trend.
According to ChemOrbis Price Index, the weekly average prices have hit almost two-year low for HDPE pipe 100 (black), for which activity has been severely dampened by economic challenges and suspended government projects earlier this year. HDPE pipe 100 (natural) offers also sank to 17-month low this week, data revealed.
On a side note, the premium of HDPE pipe black over natural grade has shrunk to around $22/ton on a weekly average this week, the narrowest figure in two years, since black grade faced more dramatic drops.
Another factor to push the market further south was aggressive South Korean import offers as they showed up with large decreases for December shipment cargos. Accordingly, Korean HDPE pipe (100) natural and black offers stood at $1230/ton and $1260/ton, respectively, CIF Turkey, cash no duty.
“China’s PE market remained indifferent to the rebound in spot ethylene prices in Asia amid lackluster demand, weak futures markets and lower energy prices. Thereby, Korean suppliers issued aggressive prices to Turkey already,” opined a player.
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