Turkish manufacturer of polymers of Petkim Company, the controlling shareholder of which is the Azerbaijan of SOCAR, has raised the prices of polyethylene (PE) on the background of the limited supply and high demand in the domestic market, according to ICIS, citing sources in the market.

Of Petkim, the only producer of polymers in Turkey, has raised the prices of high-density polyethylene (LDPE) at USD25 per ton, low-density polyethylene (HDPE) at USD30 per ton and the price of HDPE pipe at USD20 per ton.

The manufacturer said that the rise in prices was the strengthening of the fall in demand from the domestic market because of the lack of imports as the Middle Eastern producers took advantage of the best offer on the part of the Asian market.

A housing capacity for repair of in different parts of the world, together with the expectation of higher commodity prices in April also limit the availability of the material.

“Everyone is waiting for matching the April prices and some manufacturers to repair, so many manufacturers are holding material”, – said one of the Turkish traders.

This is the second of two weeks porslednie price increase from Petkim. So, in late February Petkim increased the prices of PP at USD20 per ton, HDPE prices (HDPE) and low density polyethylene (LDPE) at USD25 per ton.

As previously reported, in early February 2016 Petkim increased the prices of PP at USD10 per ton. While prices prices of LDPE and HDPE injection was reduced by USD30 per ton; prices and blown HDPE PE100 decreased by USD35 per ton.

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.