Turkish manufacturer of polymers of Petkim Company, the controlling shareholder of which is the Azerbaijan of SOCAR, the second time this month raised the price of polypropylene (PP), high density polyethylene (LDPE) and high density polyethylene (HDPE), ICIS reported, citing the statement of the company.

In particular, prices of Petkim increased the propylene homopolymer (PP-homo) grade raffia and fiber grades of PP to USD30 per tonne, the price of LDPE increased by USD15 per ton. However, HDPE prices increased by USD20 per ton.

The main factors for this polymer price increase was the fact that the reduction of import supplies of polyethylene (PE) on the background of growth of import price offers, explained the Turkish producer.

Some sellers in the Turkish market voiced higher price offers in the last week, some of which have not been taken, the sources said. Buyers resisted further growth after the recent sharp rise in prices, however, continued pressure from raw material quotations may soon overcome their resistance.

As reported by the MRC, earlier in February Petkim already raised prices of PP, LDPE and HDPE. Thus, the Turkish manufacturer raised the price of PP-homo raffia grade, injection and polypropylene fibers for USD40 per metric ton. The prices of LDPE increased by USD35 per ton. Prices of HDPE injection and blow up at USD30 per ton, HDPE film at USD65 per ton, HDPE pipe increased by USD17 per ton.

According to the price review ICIS-MRC, in Russia in the spot market prices of PP last week remained unchanged, the range of prices, depending on the region is large enough. In Siberia, the deal for the supply of PP-homo raffia grade consisted in the range of 85 500-87 000 rub. per ton, including VAT and delivery. In the PE market remains a difficult situation for manufacturers. Attempts by manufacturers to increase export sales did not lead to the desired result. Excess polyethylene in the market remains, and this factor continues to exert strong pressure on prices. But some market participants believe that in March, the situation could change, particularly for LDPE market. At the end of the week it was marked as price increases, and decrease depending on the type of polyethylene.

Petkim Petrokimya Holding A.S. – Turkish Chemical Company. The controlling stake (61.32%) is the State Oil Company of Azerbaijan Republic (SOCAR). The remaining shares are owned by TURCAS. The company carries out the production of polymers (PE, PP, PVC, PA), detergents, packaging and so on. N.