The Turkish polymer producer Petkim, whose controlling shareholder is the Azerbaijani SOCAR, raised prices for all its polypropylene grades (PP) by USD20 per tonne this week, ICIS sources told the market.

Petkim did not respond to the request for comment on prices, but earlier mentioned the increase in import prices, giving explanations for recent increases in other quotations.

In recent weeks, the Turkish market has seen an upward price trend, which is under the influence of the Asian market.

According to sources, the new prices of Petkim on the PP grade of raffia are USD1,490-1,500 per tonne, FCA, when paying for cash.

According to the Price Review of ICIS-MRC, the buying activity on the Russian contract market last week significantly decreased, many companies reported that they closed all their transactions for the August PVC supplies. At the same time, processors had to accept the growth of contract prices to 2 thousand rubles. Per ton in comparison with the level of July.

Petkim Petrokimya Holding A.S. – Turkish chemical company. The owner of a controlling stake in the company (52.32%) 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.