07 January 2010 16:01 [Source: ICIS news]
LONDON (ICIS news)--The Turkish government has reduced its homopolymer poypropylene (PP), low density polyethylene (LDPE) and polyvinyl chloride (PVC) customs duties for developing countries from 6.5% to 3.0%, market sources said on Thursday.
The move was said to be effective from 1 January 2010 and followed the increase of such duties on the same date in 2009.
“We have seen higher offers from Middle Eastern suppliers this week after this move,” a trader said.
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Market sources added that PP prices had increased in
“We have seen less PP supply from the
“New offers are up to $1,300/tonne [€897/tonne] CFR [cost and freight] in some cases but that is not the norm in the market yet,” they added.
PE prices were also up, and local supplier Petkim increased its PP price by $45/tonne in two separate stages to $1,320/tonne CFR, and its LDPE price by $60/tonne to $1,520/tonne CFR.
Offers of LDPE from the
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