A Turkish trader informed SSESSMENTS.COM that Turkish buyers are actively checking on polyethylene (PE) offers this week, but the buyers are unable to accept the prevailing levels yet. The trader has no offers this week, but market talks have it that offers for Saudi LDPE Film stand at $1,700/ton while offers for US LDPE Film and LLDPE Film C4 are between $1,750-1,770/ton and $1,540/ton, respectively. All are on LC at sight, CIF Turkey main port basis. Buyers resist these offers, especially for US origin.
The trader told SSESSMENTS.COM that buyers are watching the market. Traders received inquiries but the number of transactions was limited. Buyers are still collecting offers and comparing in order to get the best prices. The trader predicts that by the end of this week or next week, buyers will start buying due to the low or even depleted inventory. “Although it is too early to say that buying sentiment in January is better than last month, we see efforts to rise in the market,” the trader said. Price-wise, the trader opines that the inactive China market during the Chinese Lunar New Year holiday may put pressure on polyethylene (PE) offers.
