Middle Eastern PP output reduced in Turkey
PP sellers are adopting a firmer stance on their prices on the back of reduced supplies from Middle Eastern suppliers this week. Import PP offers saw weekly discounts early this week before sellers went to the sidelines and the previous low end prices disappeared on Thursday. An Indian producer reported concluding some deals to Europe recently and therefore they are feeling free from sales pressure.
PP fibre prices edged up in line with reports about limited availability for this product. Middle Eastern fibre prices gained $10/ton on both ends, while Iranian fibre offers firmed up $30/ton on the low end week over week.
A large packager stated, “Two global producers are now being sidelined from the PP market. They appear to take a firmer stance, saying they do not have much to offer and therefore, they don’t need to lower more.” Import PP prices in Turkey moved below China around two weeks ago.
A trader argued, “Although lower prices are speculated, we could sell Iranian PP fibre in large tonnages as supply from Iran is moderate. Middle Eastern producers, meanwhile, do not want to sell to Turkey below the rest of the world anymore.” Another trader added, “PP fibre is tight in Gaziantep region which may ease next week. We are not willing to step back from our Iranian fibre offers as we are free from stock pressure.”
Saudi Arabian Petro Rabigh shut its 600,000 tons/year PP plant for 55 days by around mid-October. The plant was to resume production by late January with a slight delay. Traders in Turkey have been reporting that they were not able to receive any offers from the supplier since November.
Another Saudi Arabian PP supplier, Saudi Arabia’s National Petrochemical Industrial Company (Natpet) shut its propylene and PP complex in Yanbu on January 11 because of a technical issue. The restart of the 400.000 tons/year plant was planned for the second half of January.
According to market sources, UAE-based Borouge, a joint venture between the Abu Dhabi National Oil Company (ADNOC) and Austria’s Borealis, has started to shut the PP lines at its Ruwais petrochemical complex for a turnaround. Sources report that the company will continue to carry out maintenance work at its PP lines at the site by turns over the next 2-3 weeks while adding that the exact capacity to be affected by these shutdowns is unclear. The Ruwais complex has a combined production capacity of 1.76 million tons/year of polypropylene.
A producer source at Oman’s state-owned Oman Oil Refineries and Petroleum Industries (Orpic) reported that the whole refinery will be undergoing a maintenance starting from February 23 for two months. During this period, export activities will be paused and the producer will only deliver to the domestic market from their stocks. The company shut its 350,000 tons/year PP plant at Sohar in January due to a technical problem. The plant was restarted in the last week of January last week. A trader in Turkey stated this week, “Our source was not able to offer material this week citing a shutdown at their PP plant.”
Thêm tin tức về nhựa miễn phíNhựa nhựa (PP, LDPE, LLDPE, HDPE, PVC, GPS, HIPS, PET, ABS), xu hướng thị trường polymer, và nhiều hơn nữa ...
- Giá PVC nhập khẩu hồi phục trở lại sau khi ở mức thấp nhất trong nhiều năm tại Trung Quốc, Ấn Độ
- Giá naphtha giao ngay tại Châu Á lên cao nhất trong 6 tháng do giá dầu thô tăng mạnh
- Dự báo giá PET quay đầu giảm tại Thổ Nhĩ Kỳ
- Doanh nghiệp Châu Âu thảo luận diễn biến thị trường PVC sau nghỉ lễ
- Nguồn cung nước ngoài thấp hỗ trợ giá PP nhập khẩu tại Trung Quốc
- Thị trường PP, PE nội địa Việt Nam tăng trở lại; giá LLDPE không theo kịp
- Giá hợp đồng ethylene Châu Âu sẽ tăng trong tháng thứ ba liên tiếp?
- Giá chào PVC tháng Năm của nhà sản xuất lớn Đài Loan tại Châu Á giảm mạnh hơn dự báo
- Người bán ABS Châu Á tự tin trở lại trong khi thị trường styrene biến động
- Giá PP, PE tại Thổ Nhĩ Kỳ tăng chậm lại