Turkish PET producers aim for price increases
“We concluded some deals below our list prices but they still indicated hikes over our previous December levels. Bullish costs overshadowed the impact of the volatile currency, the year end and the low season. Buyers are not able to find any prices below $1030-1050/ton on deferred payment basis since the PlastEurasia Fair last week,” a source from a producer commented.
A source from another producer noted, “Costs did not only increase for PX, PTA and MEG but also for isophthalic acid (IPA). Prices for IPA posted a large increase recently and even if it does not account for a major amount in PET production, it still means a cost increase of around $10-15/ton per ton.”
According to ChemOrbis Price Wizard, spot PX prices on FOB Korea basis reached their highest levels since late July, 2015 on a weekly average basis.
Source: ChemOrbis Price Wizard
Meanwhile, a PET bottle manufacturer complained, “We are trying to cope with rising raw material costs as well as volatile USD/TL parity. These prices might be inflated to some extent and they are driven by costs, not by spectacular demand. We are skeptical about their sustainability for next month but for the short term we may see additional hikes of $20-30/ton.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Crude oil prices seesaw on geopolitics and ebbing demand
- China’s local PP markets return on a cautiously firm note, defying weak fundamentals
- Mid-Eastern PP, PE markets rise in February after three months of weakness
- Stats: China’s 2023 PE imports snap two-year downfall despite rapidly growing domestic capacities
- PE rally loses momentum on subsiding demand in Türkiye
- PVC prices flat for 2nd straight month in Italy and West Europe
- Freight rates snap rally, Red Sea crisis keeps decreases in check
- Worsening dollar shortage pushes Egypt’s local PP, PE prices to never-before-seen highs
- Stats: US PE exports hit a renewed record in 2023, sales to China boom
- Türkiye’s PP market continues to grapple with tight supply, prices at multi-month highs