Turkey’s locally-held PE, PP markets gain 4-5% in H1 Sept.

Petrotahlil - Local polyolefin markets in Turkey moved up during the first half of September, propped up by price hikes from the domestic producer, Petkim as well as resumed restocking activities.

Before, PP raffia prices were on a downturn from mid-June to late August mainly due to stalled demand following a month-long rally for polyolefins. PE prices, meanwhile, stabilized in end July and even saw discounts for LLDPE amid rising supplies last month.

The main driver behind the shift of market direction was Petkim’s pricing policy as the producer issued two hikes for PP and LDPE, while lifting HDPE prices once since the month kicked off.

Following suit, distributors raised their homo-PP raffia and LDPE, LLDPE and HDPE film offers. The firmer attitude of sellers in the import market contributed to the upward trend in the distribution channel amid rising replacement costs of import cargos. “

Price hikes boosted price inquiries from buyers whose purchases were tied to urgent needs only for some time. LDPE supply has already been tight amid a lack of Middle Eastern allocations, while prompt LLDPE and HDPE grades were said to have waned, too, recently,” opined players.

According to the weekly average data from ChemOrbis revealed that the local homo-PP raffia market rose by 5% {$60/ton) when compared to end August. LDPE, LLDPE c4 film and HDPE film prices gained around 4% ($40-50/ton) in the same timeframe.

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Source : ChemOrbis

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