Turkish petrochemical producer Petkim Thursday increased the prices of polyolefins by $15-20/mt, sources said.
Petkim was not immediately available to confirm.
New list prices for low density polyethylene, high density PE injection molding, HDPE blowmolding, HDPE film, polypropylene raffia and PP fibre were at $1,755-1,790/mt FCA Aliaga, $1,750/mt, $1,760/mt, $1,735/mt, $1,775-1,785/mt and $1,790/mt respectively.
One source said Thursday that official selling prices rose on the back of the increase in European feedstock contract prices for June, rather than buoyant polyolefin demand in Turkey, which he described as poor. On Wednesday European June ethylene and propylene contract prices settled at Eur1,170/mt ($1,591/mt) and Eur1,160/mt FD NWE, both up Eur10/mt on the month.
The increase came on the back of rising prices of feedstock naphtha. When May ethylene settled on April 30, naphtha was trading at $926/mt CIF NWE compared with $941.50/mt CIF NWE Tuesday.
In the LDPE market, the bids of most buyers centered around $1,580/mt CFR subject to 6.5% duty, while offers were at and above $1,600/mt CFR. LDPE prices were up $10/mt on the week at $1,680-1,685/mt CFR Wednesday. The HDPE market was balanced though prompt film grade availability was still tight, sources said.
Prices were pegged in the range of $1,570-1,600/mt CFR subject to 6.5% duty, with blowmolding and injection on the low end, and film on the high end. Injection and blowmolding prices were assessed flat on the week at $1,672.50/mt CFR Wednesday and film at $1,677.50/mt CFR, up $5/mt on the week.
In the PP market, one source said demand was slow, although there was tightness for prompt supply on both fiber and raffia grades. This was not helped by the relatively weaker euro affecting European PP exports to Turkey.
Raffia offers from India were also heard at $,620-1,630/mt CFR Turkey, $10 higher.
