Following weaker global markets and imports, Turkey's Petkim lowers HDPE, PP prices

22-Dec-15

Turkish petrochemical producer Petkim has decreased its prices for high density polyethylene and polypropylene by US$20/mt, following weaker global markets and imports, a company source said Monday, as per Platts. Prices fell "because of a price correction in parallel with global pricing and [lower] import values," a company source said. The source did not disclose the outright prices. Traders had pegged HDPE gross price levels at US$1385/mt FCA Aliaga for injection moulding and blow molding and US$1340/mt FCA Aliaga for film grade. They had pegged the decrease at US$45/mt. Polyvinyl chloride and low density polyethylene prices remained stable. "There was no change, because of limited material and reasonable demand, so there was no need for a decrease," the Petkim source said. Turkish spot prices, which are generally at a discount to gross prices, told a mixed story when assessed Wednesday. PP homo injection grade was assessed at US$1010, stable on the week; HDPE was assessed at US$1223/mt CFR Turkey, down US$10/mt on the week; LDPE was assessed at US$1212/mt CFR Turkey, down US$11/mt on the week; PVC was assessed at US$740/mt CFR Turkey, stable on the week.