Turkey PP prices rise as sentiment improves and supply tightens

Turkish polypropylene (PP) prices are stable to firm this week, with market sentiment beginning to turn positive. Optimism has been low since a crash in the value of the Turkish lira, but prices are now believed to have stabilised and some sources expect them to trend upwards from here. Demand has improved this week, for fibre in particular, as it is currently the high season. Supply levels are tightening and there have been some delayed shipments that have forced players to seek alternative arrangements. Converters and traders in Turkey have avoided building stock in recent months due to the volatility of the economy, so there has been a reliance on deliveries.