Turkish polymer producer Petkim, whose controlling shareholder is Azerbaijan’s SOCAR, has lowered the price of high-density polyethylene (LDPE), while prices for other types of PE and polypropylene (PP) have remained unchanged, ICIS reports citing sources in the markets.

Petkim, the only polymer producer in Turkey, has lowered the price of LDPE by USD15-25 per ton, depending on the brand.

According to sources, the end of the referendum in the country last week did not increase the buying activity in the polymer market. Before the vote, buyers avoided action on the market, not wanting to make purchases, as the voting results remained unclear.

According to sources on the market, the demand and supply on the market remained practically unchanged. The decline in prices in Asia leads to expectations of a decline in prices in Turkey in May. It is likely that the sellers will try to benefit from an increase in activity before Ramadan and try to keep prices unchanged.

According to the ICIS-MRC Price Review, Kazanorgsintez, the second largest LDP producer in Russia, has begun routine preventive maintenance of LDPE capacities from April 13 for a period of one month. A planned stop for prolonged prevention of Kazanorgsintez capacities did not lead to a deficit in the market, as it was in previous years. Some trading companies raised prices for their remains of Kazan LDPE, but there was no demand from processors.

Petkim Petrokimya Holding A.S. – Turkish chemical company. The owner of a controlling stake in the company (61.32%) is the State Oil Company of the Republic of Azerbaijan (SOCAR). The remaining shares belong to the company TURCAS. The company carries out the production of polymers (PE, PP, PVC, PA), detergents, packaging, etc.