Petkim increases LDPE, HDPE, PP prices in Turkey

26 June 2014 12:35 Source:ICIS News

LONDON (ICIS)--Turkish polypropylene (PP) and polyethylene (PE) producer Petkim has increased prices for its low density polyethylene (LDPE), high density polyethylene (HDPE) and polypropylene by $25-30/tonne, several sources in the Turkish market said on Thursday.

LDPE and HDPE injection and blow moulding prices have increased $25/tonne, while fibre and raffia grades of PP increased $30/tonne, according to market sources.

HDPE pipe was heard increased between $15-25/tonne, while HDPE film prices were unchanged.

The producer was not immediately available for comment at the time of writing.

Middle Eastern suppliers serving the Turkish market have also talked of expected increases of up to $30/tonne for different grades in July on the back of firming feedstock costs and concerns on the possible effect on crude supply and prices due to the situation in Iraq.

Sources in the market have been talking of a possible maintenance outage at Petkim’s PE and PP plant in Aliağa, Turkey in the near future, though it was not clear which grades would be affected, or when the outage is expected to take place.

A market source said on Tuesday that Petkim's tubular low density polyethylene (LDPE) facility is currently shut down for maintenance for 10 days, but did not have information on Petkim's other production lines. The producer was not immediately available for comment.

By mid-week, spot prices in the Turkish market were mostly stable, with some exceptions.

LDPE cost and freight (CFR) Turkey prices rose $10/tonne at the low end of the range, and PP fibre prices for trucked cargoes from Iran dropped $15/tonne due to a larger bid/offer range.

By Matt Tudball