Early March PP and PE Expectations Firm Despite Ramadan Caution in Turkey

Polyolefin prices in Turkey maintained a firm tone this week, with market participants widely agreeing that polypropylene (PP) posted more visible and faster gains than polyethylene (PE) throughout February. Most players noted that recent price increases in both products have been driven primarily by supply tightness rather than any significant improvement in derivative demand. Initial expectations for March indicate that sellers may seek further hikes, although the start of Ramadan is prompting caution.

PP Hikes Outpace PE in February

Market participants reported that import PP offers increased more rapidly compared to PE. Tight PP supply — particularly the absence of Russian volumes and delivery delays from a key Saudi Arabian producer — allowed sellers to push through hikes more easily.

Saudi Arabian PP raffia offers approached the upper end of $950/ton CIF, while fibre grades, especially for prompt cargoes, neared $1,000/ton CIF. Production issues and shipment delays carried over from late 2025 supported gradual weekly increases. The lack of ready Russian material in bonded warehouses further tightened availability.

Rising prices prompted converters to secure additional volumes to avoid further increases and minimize supply risks, largely irrespective of underlying demand conditions.

PE Gains More Measured

In the PE segment, no fresh announcements were reported from the Middle East this week, as most transactions had already been concluded earlier in the month.

US offers continued to edge higher amid tight supply, with LLDPE C4 film reaching up to $950/ton CIF at the high end. HDPE film stood out as the grade where increases were most readily accepted, supported by tighter availability and relatively healthier demand.

Import LDPE, however, faced resistance despite limited supply in some grades and the absence of competitive European and US offers. Overall, PE availability remained relatively more sufficient than PP.

March Outlook Firm but Cautious

Market players generally expect polyolefin prices to remain firm in March, assuming supply constraints persist. However, the Ramadan period may moderate demand and limit the pace of further increases. Some participants anticipate smaller hikes, while others do not rule out rollovers if downstream demand fails to keep pace with recent resin gains.

The outlook for April and May remains uncertain. Market participants noted that delayed cargo arrivals and seasonal slowdowns could ease supply pressure. Developments in Russian, Iranian, Uzbek, and US polyolefin supply, along with China’s post-holiday market direction, will be key factors shaping the next phase of Turkey’s PP and PE markets.

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