15,000 tonnes of PP sold at Turkmenistan stock exchange on 12 March

14 March 2018 15:05 Source:ICIS News

MOSCOW (MRC)--Export trades of polypropylene (PP) resumed at the State Commodity and Raw Materials Exchange of Turkmenistan on 12 March with 15,000 tonnes of PP sold on 12 March, according to the ICIS-MRC Price report.

The exchange did not put up for auction polypropylene produced by the Turkmenbashi Gas Processing Plant since early May 2017, when 7,500 tonnes of polypropylene were sold.

Export trades were resumed in early March of this year and the demand was quite high. The first trading session in the export trade took place on 7 March, with bids for 40,000 tonnes of polypropylene with 15,000 tonnes offered.

The next round of trades was held on 9 March, and due to high demand the winners were not defined.

The final auction was held on 12 March, at a starting price of $960/tonne FCA (free carrier)/FOB (free on board) Turkmenbashi port. The final deals were done at the level of $1,225/tonne FCA/FOB Turkmenbashi port.

Greatest interest in the purchases of Turkmen polypropylene was from Russian companies.

MRC, a partner of ICIS, produces polymers news and pricing reports from Russia, Ukraine, Belarus, Uzbekistan and Kazakhstan.

By Sergey Karaichentsev