Turkey’s Petkim increases PP prices by $20/tonne

01 November 2007 15:39  [Source: ICIS news]

LONDON (ICIS news)--Turkish producer Petkim increased its polypropylene (PP) price by $20/tonne on Thursday as offers of imported material were depleted and costs soared, a company source confirmed.

 

The move came after a succession of rapid price decreases made by the producer, which amounted to a drop of $110/tonne during October, leaving prices at $1,470/tonne FCA (free carrier) Aliaga.

 

The price increase moved offers back up to $1,490/tonne FCA Aliaga for homopolymer injection. Petkim’s prices were last changed on October 20 when they were lowered $30/tonne.

Indian PP was heard at $1,430/tonne CFR (cost and freight), subject to 3% duty but limited offers from Saudi Arabia were higher. There was very little European PP on offer at present but some material at €1,040/tonne ($1,500/tonne) CFR Turkish port were heard for limited volume. Offers from the US were no longer being heard in Turkey.

 

Petkim left its polyethylene (PE) prices unchanged.

 

($1 = €0.69)

By: Linda Naylor
+44 20 8652 3214

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