Low density polyethylene spot prices in Turkey have risen for the first time since the end of January last year despite a continuation of weak buying interest, market sources said Wednesday.
Buyers in Turkey remained reluctant as the exchange rate woes and economic uncertainty that dogged the market throughout 2018 remained features of the market in the opening weeks of 2019 and showed no sign of disappearing in the short term.
Nevertheless, the downward trend seen throughout the PE markets in Turkey during the closing months of 2018 has halted as the lowest offers heard in the market in the last weeks of December evaporated in January.
This led to LDPE and LLDPE spot prices firming in January. LDPE spot prices rose $20/mt on the week to $980/mt Wednesday, while LLDPE spot prices increased by $15/mt over the same period to $950/mt, according to S&P Global Platts data.
