Turkey’s overall polymer imports in 2016 were mostly steady from the record of 2015 at more than 4.4 million tons. Some polymers including homo PP, PE and ABS raised their market sizes and hit a record high in 2016 while PVC, PS and EPS imports contracted on the year, offsetting the gains in other polymers.
Turkey’s Petkim increased its list prices for PP, LDPE and certain HDPE grades as of today.According to distributors, the producer raised its PP prices by $15/ton to $1470-1480/ton for raffia, $1516/ton for injection and $1530/ton for fiber grade. Petkim had last revised its PP offers up on July 24, 2017.Petkim’s new LDPE prices are up by $20/ton to stand at $1550/ton for F2-12, at $1560/ton for G03-5 and at $1540/ton for H2-8 grade. Petkim last revised its LDPE prices down on July 3, 2017.The producer also raised its LDPE-t prices by $20/ton, bringing the overall range to $1533-1565/ton for all grades. Petkim last adjusted its prices for certain LDPE-t grades up on July 24, 2017.Petkim’s most recent HDPE injection and b/m offers are up by $20/ton compared to the levels reported on July 24, 2017 and currently stand at $1410/ton and $1405/ton, respectively.All prices are offered on FCA Aliaga, cash excluded VAT basis.
According to a release on the company’s website, Spain’s Repsol announced its financial results for the second quarter. The company’s Q2 net profit rose significantly by 79% to €367 million ($429 million) from €205 million ($240 million) in the same quarter of last year. The company’s net income on CSS basis (Average recurring net profit adjusted for one-off gains and inventory effects) was also up by 44% to €409 million ($580 million) on the back of increasing production in Libya and Brazil, rebound in oil prices as well as weaker financial expenses.Meanwhile, the company’s net debt decreased to €7.5 billion ($8.7 billion) from the previous quarter’s €8.3 billion ($9.7 billion).