Petrochemicals group Petkim lowers polymer prices for PE, PP and PVC in Turkey by US$25-$35/tonne due to declining European demand and low feedstock prices for naphtha, ethylene and propylene

Andrew Rogers

Andrew Rogers

Nov 2, 2012 – Industry Intelligence Inc.

LOS ANGELES , November 2, 2012 () – Amid low feedstock costs and declining demand for polymers in Europe, Turkish petrochemicals group Petkim Petrokimya Holding AS has reduced its polymer prices by US$25 to $35 per tonne, reported Platts on Nov. 1.

Prices on a free-carrier basis for Aliaga, Turkey, were reduced for low density polyethylene by $25-$35/tonne to $1,690-$1,710/tonne and cut for high density polyethylene by $25/tonne to $1,650-$1,710/tonne, market sources told Platts.

Petkim lowered its polyvinyl chloride prices by $30tonne to $1,110-$1,140/tonne and reduced its polypropylene prices by $35/tonne to $1,615-$1,625/tonne, according to the sources on Nov. 1, Platts reported.

These price drops followed the reduction on Oct. 30 of November contract prices for ethylene and propylene in Europe. Prices free delivered to northwestern Europe fell from October by €15 (US$19) per tonne to €1,275/tonne for ethylene and by €20/tonne to €1,120/tonne for propylene.

This was in line with the modest increase in naphtha prices, which closed on Oct. 31 at $943.25/tonne, up from $939.75/tonne a day earlier and $925.50/tonne a week ago, according to Platts’ data, reported Platts.

With the forecast calling for continued weak demand, reductions in production and inventory were planned by many producers and consumers in downstream markets. One trader called Turkey’s market “bad.”

Reflecting what is happening in Europe, buying activity is weak and inventories are building in Turkey, the trader said. With the Eid holidays recently ended, orders are low and industry players are cautious, according to market sources, Platts reported.

The primary source of this article is Platts, New York, New York, on Nov. 1, 2012.

 

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

Share:

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025 795

+1 (310) 558 0008
+1 (310) 558 0080 (FAX)

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.