The leading Indian petrochemicals producer informed SSESSMENTS.COM that buying appetite in the Turkey polypropylene (PP) market has improved and the company has sold considerable volume. According to the producer source, the company started offering polypropylene (PP) Homo Raffia cargoes to Turkey towards the end of the previous week at $1,490/ton on LC at sight, CIF Turkey main ports basis and some deals were concluded at the initial offer level. As compared to December, the latest offers recorded an increase of $40/ton. As for the week commencing January 10, the producer decided to roll over the offers from last week.
The producer said to SSESSMENTS.COM that even though some buyers are still on the sidelines, some of them have started taking positions and procured a considerable volume. In the previous week, the producer revealed that the company has successfully sold a large quantity of polypropylene (PP) cargoes to the Turkey market. In the days to come, the producer foresees polypropylene (PP) prices to remain stable. An upward trend is not expected, even after the Lunar New Year holiday in China. For as long as the prices in China remain low, the producer believes it would be unlikely for polypropylene (PP) prices in other regions to change significantly.
