Tight supply lifts import PP and PE offers in Türkiye by 5% since the start of 2026

Türkiye’s polyolefin markets extended their gains into February as restricted import volumes gave suppliers the upper hand. Following heavy stock depletion in late 2025, arrivals from the Middle East, Russia, and the US have remained tight across most grades, compounded by harsh weather conditions and production issues that disrupted supply chains. The recent wave of hikes stimulated buying interest from converters, although resistance emerged toward prices at the upper end of the ranges as Ramadan approached.

For the first time in a long while, sellers have a reason to smile

Prices witnessed a prolonged downtrend in 2025 amid persistently weak demand and global oversupply. Over the year, cumulative losses reached 17% for PPH and PPBC, with Saudi Arabian offers falling by nearly $200/ton, according to ChemOrbis data.

For PE, Middle Eastern offers posted total declines of 11% ($110–120/ton) for LDPE and HDPE film, while LLDPE C4 film slumped by 13% ($130/ton) over the same period. US LLDPE fell by $110/ton (11%), whereas HDPE film saw a more modest drop of $70/ton (7%) amid a relatively tighter supply scene.

Since the beginning of 2026, import PP and PE prices have rebounded by 5–6% ($45–50/ton), offering some relief to sellers after significant margin erosion last year, when prices touched historic lows.

Delayed arrivals, tight Russian stocks lift Saudi PP prices for a second month

Import PP prices hit a bottom in the second half of November 2025, as squeezed margins prompted suppliers to test slightly higher offers. Gradual and modest hikes were accepted in deals, as buyers showed a willingness to place some material on the water to hedge against potential Q1 increases. As 2026 began, price hikes gained momentum, mainly triggered by tight volumes at key suppliers, including Saudi Arabia and Russia.

A manufacturer said, “Diminished stocks of Russian PP at warehouses paved the way for further hikes from Saudi sources. Disrupted production in Kazakhstan amid feedstock issues added to this scene. Meanwhile, we faced delivery delays for our Saudi cargos secured in November. Under these circumstances, sellers’ bullish stance may carry into March, particularly if end demand revives after Ramadan.”

A global trader said, “Saudi Arabian offers rose visibly in February. This week, South Korean PP block copolymer prices for April cargos emerged with additional hikes despite the approaching Chinese Lunar New Year holiday. The market has been underpinned by limited supply for select copolymer grades, whereas buyers may start to resist fresh highs, considering that overall PP supply may ease somewhat in early Q2 amid new arrivals.”

Middle Eastern PE sellers secure part of hike targets, HDPE film leads

Import PE offers signaled stabilization in December, when Middle Eastern sellers adopted a cautiously firm stance after months of price cuts, encouraged by the fading presence of aggressively priced American cargos. This was followed by fresh hike attempts in January and February, prompting buyers to restock early in the new year to hedge against further increases despite generally subdued derivative demand. Global cues—including rising import prices in China ahead of the holiday break and a bullish LDPE scene in nearby Europe—coupled with Petkim’s hike at home, reinforced the upward sentiment.

This month, a Saudi Arabian major initially sought $50/ton hikes, while increases of $20–30/ton materialized for LLDPE C4 film. HDPE film transactions, however, posted larger gains of $40–50/ton from January, as supply–demand dynamics were more supportive than for other PE film grades.

A converter said, “Uzbek and Russian sources are mostly absent right now, while US origins have lost their competitive edge, with prices touching as high as $950/ton for LLDPE and HDPE in certain cases. We will monitor whether Iranian supply flows will pick up in the coming term amid easing geopolitical tensions.”

Turkish players to keep a close eye on supply outlook

Polyolefin players are divided over expectations for late Q1. Some anticipate fresh PP and PE hikes if availability issues persist. Others argue the bullish momentum may fade due to the impact of Ramadan and the Lunar New Year, recently lower container rates on ex-Asia routes, and the possible arrival of delayed volumes.

Meanwhile, a player noted, “We believe traders have not replaced large volumes given concerns over the sustainability of the firming trend and the losses they incurred in late 2025. As a result, supply may not lengthen until April–May. If demand improves after Ramadan, polyolefin markets may preserve their strength.”