All Turkmen PP Auctioned For Export Sold in Single Day

BUSINESS TURKMENISTAN
All Turkmen PP Auctioned For Export Sold in Single Day
The deals were made with terms of shipment within three months.

On Wednesday, 3,500 tons of Turkmenbashi refinery’s polypropylene (PP) were put up for export sales at the State Commodity and Raw Materials Exchange of Turkmenistan. Demand for the PP was strong and all quantities of it put up for auction were sold out during one trading day, Independent Commodity Intelligence Services (ICIS) reported on Friday with reference to the ICIS-MRC Price report.

The starting price for the PP raffia grade, produced at the Turkmenbashi Complex of Oil Refineries, was set at $1,300/ton FOB/FCA. Demand for the PP was good during the trades and all deals were agreed at $1,400/ton FOB/FCA. The deals were made with terms of shipment within three months.

The Turkmenbashi refinery is the largest enterprise in Turkmenistan. In terms of its scale, it is comparable to the leading oil refining concerns. The TCOR also includes numerous oil depots and filling stations.

The construction of installations, designed to deepen the processing of raw materials and expand the range of export products with high added value, is presently underway at the TCOR.

In Turkmenistan, PP is also produced at the Kiyanly polymer complex in Balkan velayat. The complex is designed to produce 381 thousand tons of PE and 81 thousand tons of PP annually.