Turkey's Petkim continues to lower polymers prices

24 October 2008 12:52  [Source: ICIS news]

LONDON (ICIS news)--Turkish plastics producer Petkim has dropped its polymers prices for a second time this week – and the fourth time this month – as demand continues to weaken and global prices fall in line with oil and naphtha, sources said on Friday.

For polyethylene (PE), Petkim has moved low density PE (LDPE) down another $100/tonne to $1,345-1,355/tonne (€1,049-1,057/tonne), which is a decrease of $200/tonne this week in total.

High density PE (HDPE) was down $75-150/tonne depending on grade.

HDPE injection and blowmoulding were brought down by $150/tonne to $1,200/tonne FCA (free carrier) Aliaga, while pipe grade was decreased $75/tonne to remain above $1,400/tonne FCA Aliaga.

Petkim moved polypropylene (PP) down $150/tonne to $1,200/tonne FCA Aliaga, while polyvinyl chloride was lowered by another $90/tonne to $880-910/tonne FCA Aliaga.

The reductions brought prices more in line with imported offers, which were lower and subject to a 3% duty, putting them close to Petkim’s prices.

Demand was very weak, with one source reporting that activity was at a standstill.

($1 = €0.78)

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By: Linda Naylor
+44 20 8652 3214

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