Turkey’s raffia market more vivid than fibre
“Traders and distributors have been refraining from replenishing stocks for a long time owing to the persistent decreases in the PP market. This naturally caused limited availability in the local market, which came on top of some revival in the end product business for raffia sacks and big bags. Petkim was also absent for some time,” a buyer said.
A sack manufacturer also said, “Demand for our end products is quite good nowadays as we are in the middle of the high season for coal sacks. Yet, we don’t buy beyond our needs as prices are likely to decrease further in line with weaker upstream markets.”
Fibre buyers, however, have been away from the market, continuing to shy away from purchases amidst retreating prices and their unsatisfactory business. They also believe they can find cargoes whenever they need.
Players are closely eyeing the crude oil market as well as the upcoming propylene contract settlement in Europe. As a result of better buying interest for raffia, prices for this product have not recorded much change this week with Saudi cargoes being offered at $1380-1400/ton CIF, cash, subject to 6.5% duty. Saudi fibre offers, nevertheless, have moved down by $20-30/ton on the week to be reported as low as $1515-1560/ton on CIF equivalent, cash basis.
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