Turkish polymer producer Petkim, whose controlling stake is Azerbaijani SOCAR, raised January prices for polyethylene (PE), polypropylene (PP) and polyvinyl chloride (PVC), market sources told ICIS.

So, in January, the company raised the prices of PP, high and low pressure polyethylene (LDPE and HDPE) and PVC by USD30 per ton, a source in the company confirmed.

Actual prices quoted by the company are indicated on a gross basis, and Petkim can offer large discounts on material shipment.

US PE suppliers also raised their price offers at the end of last year. Most buyers remained at their previous price positions in early January, expecting to receive at first all price offers for January deliveries.

According to the ICIS-MRC Price Survey, at the end of December last year, good buying activity remained on the Russian PE market, some processors agreed on deals for deliveries in the first ten days of January. Some sellers went on to further reduce the price of polyethylene. At the end of 2019, negotiations on the January contract supply of Russian material started on the PP market, processors noted a serious reduction in the prices of propylene homopolymer (PP-homo) from one of the manufacturers. Also on the contract market the pipe stat-copolymer of propylene (PP-random) fell in price. Also, at the end of December, negotiations on the January contract supply of Russian PVC to the domestic market traditionally started on the PVC market. Most manufacturers came up with proposals to prolong December prices for the next month, although one of the manufacturers was considering the possibility of increasing prices by 1 tf. rub. per ton.

Petkim Petrokimya Holding A.S. – Turkish chemical company. The controlling stake in the company (51.39%) is owned by the State Oil Company of the Republic of Azerbaijan (SOCAR). The remaining shares are owned by TURCAS. The company produces polymers (PE, PP, PVC, PA), detergents, packaging, etc.