HDPE maintains its strength in Turkey

07-Oct-10
Since the first half of September, polyethylene players in Turkey have been complaining about tight HDPE supplies, particularly for promptly available cargoes. This has kept sentiments in the HDPE market relatively firm compared to other PE products, as per Chemorbis. The main reason behind the relative strength of HDPE is the absence of regular Middle Eastern suppliers, most of whom stepped out from the Turkish market mid-month, and returned only with October offers. Shortage from the main supplying region –the Middle East, has prevented local sellers from building stocks last month. Despite the return to markets by regional suppliers wth their October prices last week, most resellers were unable to secure high volumes as some producers preferred to give priority to their regular customers. The producers’ HDPE prices rose by US$30-40/ton from the September levels, while their LLDPE prices recorded relatively moderate increases of US$10-30/ton month over month. According to market players, PE supplies are expected to be tight in October also due to a decision by several major producers in the Middle East, including Sabic and PetroRabigh to lower their operating rates or shut their plants due to technical problems. Healthy demand from buyers amid scarce import supplies, continue to keep the sentiment firm in the HDPE market for another month, with sellers having had their confidence renewed recently. “Although the PE demand is slow in general, buying interest for HDPE film is better relative to other products,” a distributor commented, adding that he expects HDPE prices to rise, while he does not think that any further price hikes are feasible on LDPE and LLDPE over the short term. The domestic producer, Petkim already raised their offers by US$20/ton for the month of October after a period of stable prices over the month of September.
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