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The first deals on PP exports from new polymer plant took place in Turkmenistan

September 12/2018
MOSCOW (MRC) - The first lots of polypropylene (PP) and high-density polyethylene (HDPE) from the new gas chemical complex were put at exports trades of the State Commodity and Raw Materials Exchange of Turkmenistan a week ago. But the real deals, and only for PP, took place only a week later, according to ICIS-MRC Price Report.

The first lots of PP and HDPE with a total volume of about 14,100 tonnes were put at the State Commodity and Raw Materials Exchange of Turkmenistan from the new gas chemical complex in the village of Kiyanly (Balkan region, Turkmenistan) on 3 September. But the trader set a fairly high price on the very first day of the trades.

Only a week later due to a noticeable decline in prices, the first deals took place. Potential buyers said the trader set a fairly high level of starting prices a week earlier, polyethylene (PE) and PP were offered at USD1,250-1,300 per tonne, FCA.

Such starting prices were unacceptable for most buyers given the novelty of the material and the unproven logistics.
The starting prices in the export trades were reduced to USD1,100/tonne FCA on 10 September, after which several deals were done for PP shipment with a volume of about 500 tonnes. Buyers were companies from the CIS countries.

Part of the potential buyers still refrained from purchases and waited for the prices at the level of USD1,050-1,060/tonne FCA, because they did not fully understand the real terms of shipments and the final cost of delivery.

Earlier it was reported that the gas chemical complex for production of HDPE and polypropylene with the capacity of 386,000 tonnes/year and 81,000 tonnes/year respectively was built by the consortium TOYO Engineering (Japan) and LG and Hyundai (South Korea). The total cost of the project was about USD3.4 billion.
Author:Anna Larionova
Tags:PP, PE, HDPE, Turkmenbashy Refinery, Turkmenistan.
Category:General News
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