MOSCOW (MRC)--At least 10,000 tonnes of polypropylene (PP) have been sold this week at the State Commodity and Raw Materials Exchange of Turkmenistan, according to ICIS-MRC Price report.
Export quantities of PP (10,000 tonnes) were put up for auction at the exchange on 4 June and, despite long delivery terms of up to eight months, buying activity was high, partially because of low starting prices.
All PP quotas were sold out in the first trading day, with deals done $20/tonne higher than the starting prices at $1,120/tonne in both free on board (FOB) and free carrier (FCA) basis.
The previous trades were held on 23 May, with deals were done at $1,100/tonne FOB/FCA Turkmenbashi port, with shipments within eight months from the date of contracting.
20,500 tonnes of PP were bought out in the trades.
MRC, a partner of ICIS, produces polymers news and pricing reports from Russia, Ukraine, Belarus, Uzbekistan and Kazakhstan.