Middle Eastern PP output reduced in Turkey
Players in Turkey report reduced PP availability from the Middle East in tandem with some plant shutdowns on part of regional producers. Another reason behind the situation is deemed as those sellers’ lower allocations to Turkey given the unfavorable netback in this country.
PP sellers are adopting a firmer stance on their prices on the back of reduced supplies from Middle Eastern suppliers this week. Import PP offers saw weekly discounts early this week before sellers went to the sidelines and the previous low end prices disappeared on Thursday. An Indian producer reported concluding some deals to Europe recently and therefore they are feeling free from sales pressure.