News Code : 43957

Expected corona impact on global markets next month.

Petrotahlil - The downtrend of the Chinese polymer market, coupled with low energy prices and the problems of the Coronavirus , caused the Turkish polyethylene market to decline again this week.

According to petrotahlil : In addition, the likelihood of price increases in March has dropped sharply amid intense falling prices in China.On the other hand, Turkish buyers are cautious about the possibility of directing polymer products to Turkey that merchants cannot sell on the Chinese market.

As a result, Iranian petrochemical shipments continued to decline in the Turkish market, with Iran LLDPE shipped to Turkey by a drop of $ 2 to $ 3 per tonne reached to $870-880 CPT.

American LLDPE is now $880-890/mt CPT.

Iran's HDPE film has also been reported at $ 2 to $ 3 per tonne of CPT to Turkey and american cargoes $870-890/mt CIF turkey.

Iran HDPE blow mold cargoes are about $870-880/ Mt . americans are $860-870/ mt,CIF. 

Uzbekistan's HDPE blow mold cargoes are also valued at $910-920/mt CIF.

Buyers have taken a wait-and-see position in the Turkish market as prices are not likely to rise in March amid China's downturn.

Also the depreciation of the lira against the dollar is another reason for the weakening of the Turkish polyethylene market.

On the other hand, sometraders point to the emergence of some competitive bids and the possible entry of American cargo into the Turkish polyethylene market.

However, the impact of the Corona on markets seems to be more apparent next month.

Follow us on twitter @petrotahlil 

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