Prices for polyethylene (PE) in Turkey were mostly stable last week, but prices for low-density polyethylene films (HDPE) rose amid a reduction in supplies from Iran, according to ICIS.

Iran is the main supplier of HDPE to Turkey, but production was seriously disrupted as a result of large-scale flooding. This caused damage to the West Ethylene Pipeline ethylene pipeline, which connects dozens of petrochemical plants with crackers.

Demand was negatively affected by elections in the country. Market players refrain from shopping for political instability.

Middle Eastern suppliers tried to raise prices in April, but their attempts failed. The continued decline in the value of the lira against the US dollar also undermines customer confidence.

US volumes do not come in such large volumes as many players had expected, but weak demand means that at present this does not cause accessibility problems.

Earlier it was reported that the Iranian petrochemical company Ilam Petrochemical closed the production of low pressure polyethylene (HDPE) at the plant in Ilam (Ilam, Iran) due to an explosion on the ethylene pipeline supplying ethylene to the plant. This enterprise with a capacity of 300 thousand tons of HDPE per year was closed in early April. It is expected that by the end of April, the plant will resume production of HDPE.

According to Scan Report Company Market Report, by the end of February of this year, the estimated consumption of HDPE in Russia decreased to 78.84 thousand tons against 95.81 thousand tons a month earlier. Manufacturers have reduced production volumes, in particular, because of a stop in the second decade of February of Stavrolen. Also in February, Gazprom neftekhim Salavat stopped its facilities for several days. At the end of January-February, the estimated consumption of HDPE amounted to 174.65 thousand tons, which is only 1% more than the 2018 figure. Increased import and export volumes.