Petkim reduces LDPE prices this week to reflect easing demand in Turkey

Turkish petrochemicals group Petkim has reduced its low density polyethylene (LDPE) prices this week by US$20-30/mt to US$1770-1780/mt FCA Aliaga; to reflect easing demand in the Turkish polymer market, as per Platts. This indicates that Turkish polymer prices are higher than Asian, which is adding to the pressure on prices. LDPE prices were assessed at US$1425/mt CFR China Tuesday, while in Turkey offers were heard at $1640-1660/mt CFR Istanbul, subject to duty. Since the markets have been very dull, PE sellers prefer to liquidate inventory buildup in the face of falling prices.
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