Price Discovery Remains Difficult in Turkey’s Import PP and PE Markets

Turkey’s import polypropylene (PP) and polyethylene (PE) markets continue to face intense downward pressure, with prices falling steadily but no clear market floor yet in sight. After continuous declines throughout June, buyers and sellers remain far apart in their price expectations, resulting in limited trading activity and increasing uncertainty across the market.

Sellers have continued reducing offers in an attempt to stimulate demand, while buyers remain cautious, expecting further declines before returning to the market. The lack of significant transactions has made it increasingly difficult to establish reliable market benchmarks.

PP Raffia and LDPE Face Pressure from Competitive European Cargoes

Import homo-PP and copolymer markets weakened further over the past week as Middle Eastern and South Korean suppliers lowered offers amid sluggish demand.

Saudi Arabian homo-PP raffia offers moved close to the $1,100/ton CIF Turkey level, subject to 6.5% duty. Some market discussions even suggested levels slightly below $1,100/ton, although confirmed deals remained scarce due to weak trading activity.

South Korean PPRC pipe grades were reported below $1,500/ton CIF duty-free, while UAE material was heard below $1,450/ton CIF duty-free, increasing competitive pressure in the copolymer segment.

European suppliers also entered the market with highly competitive raffia offers around €1,000/ton CIF duty-free. Supported by lower propylene costs and a softer euro, these offers intensified pressure on traditional suppliers from Saudi Arabia and Russia, with market participants expecting further concessions in the coming weeks.

The LDPE market experienced similar pressure. European offers slipped below €1,100/ton CIF following lower ethylene settlements, forcing regional suppliers to reconsider pricing strategies. In response to weakening market conditions, Turkey’s local producer reduced its LDPE list prices by an additional $200/ton.

US PE Offers Fall Below Key Price Levels

The strongest pressure in the PE market came from aggressively priced US cargoes.

By the end of last week, offers around $1,000/ton CIF Turkey became common for US-origin LLDPE C4 film and HDPE film grades, significantly below the initial July offers from many Middle Eastern suppliers.

Fresh market indications this week suggested even lower levels:

LLDPE C4 Film

Current Offer Level: Around $980/ton CIF Turkey

HDPE Film

Current Offer Level: Around $980/ton CIF Turkey

HDPE Blow Molding

Market Discussions: Around $950/ton CIF Turkey

HDPE Injection

Market Discussions: Around $900/ton CIF Turkey

US LDPE also moved lower, falling from around $1,300/ton CIF last week to approximately $1,250/ton CIF.

Further Price Cuts Expected

With demand remaining weak and global polyolefin markets under pressure, market participants expect additional reductions from Middle Eastern producers. The return of previously disrupted production capacity, coupled with falling feedstock costs and aggressive US and European competition, continues to weigh heavily on pricing.

Buyers are increasingly targeting the low levels seen at the end of 2025 rather than the pre-war benchmarks, reinforcing the bearish sentiment currently dominating Turkey’s import PP and PE markets.

Stay ahead of market trends with the Credco app. For any queries, please reach out via WhatsApp at +91 8448083211