Turkey’s import PP, PE markets move below China
According to ChemOrbis Price Index, Turkey’s average import LDPE prices have coincided with China this week when customs duties are not included. Meanwhile, PP prices have just gone below China this week. An Indian supplier said, “Our offers form the low end of the overall import range in China this week. However, we see that lower levels than our prices to China are available in the Turkish market from the Middle East. Therefore, we prefer to withhold our PP raffia offers to Turkey this week.”
As for import HDPE film and LLDPE film, average prices in Turkey have been already trading below China in the past one month, according to ChemOrbis Price Index, when duties are excluded for prices in Turkey. The pressure from competitive Uzbek cargoes has kept the HDPE market level in Turkey lower than China in the midst of unsatisfactory demand.
In order for the two markets to come back into balance, either China should come further down or Turkey should go up. Considering the lethargy of demand in Turkey, an upturn is not deemed likely for the near term. The economy is slower and energy markets are volatile, remarked some players. On the other hand, players are not sure about further drops in China either in the wake of the upcoming season particularly for PP, LDPE and LLDPE and reduced supplies.
Players are now wondering whether it will be demand concerns or supply issues setting the tone of the market in the near term.
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