Polymer prices in Turkey are skyrocketing

The shortage of imported polymers in Turkey provoked an increase in product prices. By the end of 2020, prices reached their maximum values and, as traders assume, they will remain high until the end of March 2021 for the same reason. The price of polyolefins began to rise in May 2020, after quotes fell to their lowest since Argus began market research in August 2019.

The reason for the shortage of polymers is the renewed demand for products in the second half of 2020 in the Asia-Pacific region. This can also include the increase in prices for container shipping. Last year, a particular interest was seen in the fiber product from carpet manufacturers. Due to the tense relations between Turkey and the largest supplier of polymers Saudi Arabia, the import of polyolefins to the Turkish market may completely stop. The Argus agency notes that the ban on the import of all goods to Turkey, already introduced by Saudi Arabia, has not yet affected the polymer market in any way.