PP prices remain stable in Turkey – The spot prices of polypropylene (PP) in Turkey remained unchanged last week amid expectations of the beginning of agreement on December prices, ICIS reports citing market participants – PP prices Turkey - Arhive
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PP prices remain stable in Turkey
MOSCOW – The spot prices of polypropylene (PP) in Turkey remained unchanged last week amid expectations of the beginning of agreement on December prices, ICIS reports citing market participants.
Demand for PP continues to be weak, although it strengthened somewhat last week due to a lack of supply from the local producer, but this did not affect prices.
The supplier said that it intends to maintain the current price level for December supplies against the backdrop of rising oil prices and a balanced market.
The PP proposal is limited, as many sellers prefer other regions that currently offer the best prices. Many Turkish buyers insist on further price reductions. Currently, there are several proposals for new supplies of material.
According to the trader, the reserves of PP in the market are small. Another source said that in mid-December it expects a deficit, and players may be forced to return to the market before Christmas.
The low level of supply of PP is offset by low demand, which is exacerbated by the weak Turkish lira against the US dollar and various political problems. Last week, the Turkish lira reached its lowest level this year, supporting a downward trend in the market across the country.
Earlier it was reported that the Turkish polymer producer Petkim, the controlling shareholder of which is Azerbaijani SOCAR, lowered the prices of polypropylene (PP) on October 30. So, the company reduced the price of PP by USD35 per ton. This decline in prices followed an earlier announcement of a decline in quotations.
According to the Price Review of ICIS-MRC , the buying activity in the Russian PP market was low last week, most of the local processors have already closed all their transactions for the November PP supplies. Next week, talks will begin on December PP contract prices, many companies expect proportional growth in contract prices for propylene homopolymer (PP-homo) in November for spot prices.
mrcplast.ru
Author: Anna Larionova