NewsSSESSMENTS: Turkey Trader Discloses Factors Supporting Iranian PE Cargoes Price Adjustment, Possible Reason For PP Offers Absence

A Turkey trader discloses factors supporting the increases in Iranian PE prices and possible reasons for the absence of fresh PP offers to SSESSMENTS.COM. Following the hike in transportation cost ahead of the Nowruz (Iranian New Year), the offers for HDPE Injection and HDPE Pipe are adjusted higher between $10-20/ton on a weekly comparison. Similarly, the offers for LLDPE Film C4 also increased significantly by $40/ton from last week supported by other factors such as strong demand for the grade and limited supply in the market. For HDPE Blow Moulding, the trader will start offering next week as the cargoes are still on the way and the price indication is between $10-20/ton higher from last week depending on the destination.  

As of this week, the offers for Iranian PP cargoes remain absent while the offers for import PP to Turkey in general increased between $40-50/ton on a weekly comparison. The trader expressed an opinion to SSESSMENTS.COM regarding the absence of Iranian PP cargoes. “Demand in Iran domestic market is satisfactory ahead of Nowruz, hence, local producers might hold the cargoes on the back of expectation of higher prices onward,” the trader said.

Looking ahead, the trader opined to SSESSMENTS.COM that PE and PP prices will remain firm supported by the tight supply. While for the China market, the price movement is still difficult to predict; whether the Coronavirus issue would drag prices down or not. “We will have to monitor further after the market activities in China resumed,” the trader commented.

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