A major Middle Eastern producer has offered March PP raffia offers to Turkey at the end of last week, as per Chemorbis. The producer’s new prices stand between US$1430-1450/ton CPT South Turkey, subject to 3% customs duty, cash, representing an increase of US$40-50/ton from their most recent February level. PP raffia offers from the producer for stood at US$1400/ton with the same terms in early February, and was sold at US$1380/ton a week earlier. March offers available in the market are cited to be available at around US$1390-1400/ton.
The same Middle Eastern major approached Egypt market with higher PP raffia offers at US$1340-1350/ton on CIF Alexandria, 90 days deferred payment basis for the month of March. Egypt’s PP market saw some decreases from the local producer and distributors in the past weeks based on comfortable availability and slow demand.