Turkish PP players on hold ahead of Plast Eurasia; turnarounds underpin fibre

Türkiye’s PP market is ending November in consolidation mode after five straight months of declines, with sellers defending margins and having built a technical floor ahead of the Plast Eurasia fair on December 3–6. The overall tone has stabilised, although firmness remains highly grade-specific. Fibre, in particular, has outperformed in line with tighter availability and some seasonal support.

Maintenance shutdowns lend support to PP

Fibre sentiment received additional backing from Saudi Al-Waha’s upcoming January turnaround, curtailed Egyptian volumes, and limited December allocations from another Saudi supplier. These factors helped erase earlier lows around $850–860/ton CIF and encouraged sellers to test small hikes of $10–20/ton for upcoming allocations. As a result, Saudi fibre was assessed $10/ton higher at $870–890/ton CIF Türkiye, cash, this week, while a couple of sell ideas reached $900/ton. The grade thus maintained a mild premium over other homo-PP products.

Some carpet makers said, “We may procure some PP volumes next month, depending on our end-product order entries and the fact that we skipped purchases in November.”

A manufacturer noted, “We have received some orders from both local and export customers over the past month. We are negotiating our 2026 commitments while also finalizing our new designs and product portfolios. We expect to have a clearer view of the carpet supply-demand balance at the ICFE International Carpet and Flooring Expo in Istanbul in early January 2026.”

Projections for a broader recovery remain volatile

However, this firmness has not spilled over into the wider PP complex. Saudi PP raffia was assessed steady at $835–850/ton CIF, with most offers clustering around $840/ton. Buyers remained skeptical of hike attempts, with some believing raffia could revisit previous lows if restocking activity at the upcoming fair falls short. “Ample global supply, muted exports, and persistently weak downstream demand across major regions will restrain any meaningful upward push in December,” one buyer argued. Others, however, pointed out that sellers are no longer under stock pressure, adding: “If buyers purchase at the fair, convinced that this is the bottom, sellers may lift prices slightly.”

The copolymer segment also failed to show convincing recovery signals. PPBC inj. continued to face a soft undertone after Saudi levels slipped below $900/ton CIF, with no confirmed rebound. Hike attempts for South Korean PPBC inj. and PPRC type 3 lost steam as freight rates fluctuated, hindering sellers’ ability to justify increases. Market players broadly expect December to remain mostly stable, with only marginal week-to-week fluctuations.

Players shift focus to major industrial fair in Istanbul

Still, broader PP grades lack fundamental support while global polymer players prepare to gather at Plast Eurasia Fair Istanbul next week. Most buyers plan to negotiate cautiously, expecting potential flexibility for larger-volume purchases if sellers face renewed pressure ahead of the Christmas holidays, amid relatively low crude oil prices and subdued Asian PP markets. Additionally, expectations of flat-to-softer European propylene leave little cost-push justification for any significant upward moves.