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Turkey’s local LLDPE, HDPE markets edge down on waning demand

by Merve Madakbaşı - mmadakbasi@chemorbis.com
  • 24/07/2020 (10:44)
Turkey’s locally-held PE markets gave signals of a softening since last week except for LDPE grades, for which supply has been still limited. The main reason to blame was subdued demand from converters. Players are readying to celebrate Eid holiday on July 31-August 3 and not much activity is likely to take place next week either.

Increased supply weighed on LLDPE and HDPE b/m

PE demand has slowed when compared to the first half of July since most buyers have already secured some volumes. Traders blamed the arrival of lower cost cargos as a factor that eased availability and dented buying interest ahead of the imminent holiday lull.



Nearing holiday dimmed buying appetite further

Most buyers elected to stick to the sidelines ahead of fresh import PE offers from their suppliers. In the local market, the overall HDPE and LLDPE film ranges were assessed $10-20/ton lower week over week at $1100-1160/ton and $1090-1150/ton ex-warehouse Turkey, cash inc VAT, respectively.

HDPE b/m prices below the $1100/ton threshold were widely talked amid sellers’ willing to entice their sales before holiday. Some players reported hearing prices as low as at $1060-1080/ton although these levels were not confirmed by primary sources at the time of press.

Meanwhile, LDPE level was notionally unchanged at $1240-1290/ton with the same terms. According to participants, fading activity led to smoother deliveries from the domestic producer Petkim compared to the previous weeks when the company was short on stocks.
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