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Turkish players shifting to offers with arrival options

by ChemOrbis Editorial Team -
  • 23/12/2014 (16:50)
In order to manage rapid and steep decreases in polymer markets, players in Turkey are now switching their policy to set prices upon the date of arrival. “Few sellers are coming with firm offer levels. Instead, they are asking our bids. In the midst of these abrupt decreases, we are wary of placing firm bids as sellers seem ready to accept most bids they receive,” a pipe maker said at the start of this week.

A packaging producer also commented, “Even if we think that we can obtain prices below the prevailing market level, these prices may seem high a few days given the sharp decreases being seen in the market. It is hard to manage our purchases under these circumstances. We cannot delay our needs either as our production is still ongoing.”

This week, an improvement in buying interest is reported in polyolefin markets but buyers are shying away from purchasing as they cannot find the right price. Therefore, they are willing to accept to accept prices with an arrival option. “The best way to manage this downturn and sell material is to offer with an arrival option and determine the final price when the cargo arrives,” said a trader. Producers are ready to accept these terms as well after struggling to sell for the past few months, according to players.

A buyer said, “It is hard to see the real market level as there are lots of offers with arrival options available. There are lots of speculative offers around.”
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