Polypropylene (PP) prices in Turkey remain stable in the market after a small surge in activity last week, ICIS reported, citing market participants.

At the same time, prices of molded PP raffia varieties decreased.

Demand for PP fell amid downtrend in Asia, where propylene prices fell. PP prices in Turkey tend to follow Asia, so local buyers are waiting for a decline in the local market. Buyers took a wait-and-see attitude, observing the future direction of the Turkish market.

New offers from South Korea have attracted the attention of market players, but they still postpone purchases due to the long delivery time. Now, short delivery times are preferable for them, since the players have reduced their production capacity and only buy based on the most necessary needs.

The market also offered PP from the United States. American PE is now widely offered in Turkey, but this is the first time that US suppliers offer PP.

Due to the economic crisis, processors operate at reduced production capacities. Lending lines for purchases are reduced, and the end-user market remains limited by economic concerns.

According to ICIS-MRC’s Price Review, the November contract price of propylene in Europe was agreed at EUR10 per tonne lower than October. Nevertheless, virtually all European manufacturers announced a prolongation of the October export prices of polypropylene (PP) for deliveries to the markets of the CIS countries in November. Deals regarding November deliveries of PP-homo were coordinated in the range of EUR1 185-1 240 per tonne, FCA, which actually corresponds to the level of October with the exception of the lower limit. The supply of propylene block copolymers (PP block) was in the range of EUR1 250-1 310 per ton, FCA, whereas a month earlier the deals were at EUR1 230-1 310 per ton, FCA.