August holiday season increases avails of European cargoes in Turkey

Players in Turkey’s polymer markets are reporting increased availability of European origins this month, as an increasing number of buyers in Europe conduct shutdowns at their plants in accordance with the August holiday season in Europe, as per Chemorbis. With most local buyers away from their desks for the greater part of the month, European producers looking for alternative outlets for their material are turning to the nearby Turkish market as a potential home for their materials. This week, overall import ranges for LDPE and HDPE film were composed exclusively of European origins in the absence of Middle Eastern producers as they have concluded August business last week. Distributors in Turkey expressed concern over lack of availability in the region’s import markets, as several buyers hope to secure some cargoes before Middle Eastern producers announce anticipated September increases. An active South European producer has already commenced a new round of price hikes with an increase of €20/ton on LDPE offers, with over European sellers expected to seek higher prices in the days to come. European sellers have also been active in the Turkish PP market for August. A South European producer took advantage of a favorable euro/dollar exchange rate to position themselves on the lower end of Turkey’s overall import range, commenting that they concluded their August business to the Turkish market earlier this week at prices €35/ton above their most recent offers. Many distributors have also been offering a great amount of European origins to the Turkish market this month, with these distributors stating that they are seeing good demand and that they have nearly sold out their current allocations. Turkey’s PVC market has also seen increased activity on the part of European sellers this month as producers in Europe have shifted more of their focus to the Turkish market owing to the quiet conditions prevailing in their local markets. Although a number of different origins have recently begun to appear in the Turkish import market, European sellers have been able to maintain an advantageous position when compared with the other import origins owing to their duty-free status. Several European sellers reported that they managed to conclude some deals this week in small tonnages as buyers have been sourcing more of their needs from the European market this month owing to the relatively attractive prices available for European materials.