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<\/a>Spot prices in the Middle East of polypropylene (PP) in Turkey are reduced due to weaker activity in the market against the backdrop of an unstable situation in the country caused by the coup, according to ICIS, citing sources in the market.<\/p>\nThe number of transactions was limited, as customers reduced their requirements to a minimum. In addition, demand for finished products market is also low, which does not encourage refiners to build up stocks.<\/p>\n
Iranian PP prices remained unchanged, while the number of transactions is limited.<\/p>\n
The situation in the market of PP is still under the influence of a coup attempt in July and overall financial instability. Companies are nervous because of the fact that potential partners are under investigation by the government.<\/p>\n
According to sources in the market, the state of emergency is still in force in Turkey as the government can confiscate the assets of any company, if it is suspected of involvement in the coup attempt. This can lead to the loss of the payment by the seller, as well as possible questions about the relationship between the two parties.<\/p>\n
It was noted earlier that on 15 July in Turkey was an unsuccessful attempt of a military coup. Subsequently, the Turkish authorities stated that the coup attempt had failed.<\/p>\n
As reported by the MRC, in late July, the new CEO of the only producer of polymers in the country Petkim was appointed Anar Mammadov. Previous CEO Korkut Petkim Sadeddin resigned from his post and was subsequently arrested on charges of having links with the movement of Fethullah G\u00fclen.<\/p>\n
According to the Price Review ICIS-MRC, in the Russian polypropylene market, the main wave of purchases has passed, many large processors have closed all their transactions with respect to raw materials supply in August. At the same time a lot of small companies are not in a hurry to replenish their inventories.
\nPolypropylene Offer on the market has increased markedly, but an excess is observed only in the segment of PP-homo raffia grade. At the end of the week it recorded a slight decline in prices for individual items.<\/p>\n
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Spot prices in the Middle East of polypropylene (PP) in Turkey are reduced due to weaker activity in the market against the backdrop of an unstable situation in the country caused by the coup, according to ICIS, citing sources in the market. The number of transactions was limited, as customers reduced their requirements to a […]<\/p>\n