Union of Chambers and Commodity Exchanges of Turkey

Industry representatives expressed their problems at the meeting, which discussed the unpredictable increases in raw materials in the plastics, rubber and composites sectors. It was stated that pricing in the petrochemical sector was designed according to the balance of supply and demand, and it was shared that the supply reduction triggered by the pandemic negatively affected the entire supply chain.

Mentioning that it is important for the sector to realize the Raw Material Power Union, the representatives stated that they are working with minimum stock. In addition, it was stated that additional petrochemical capacities will be activated in the world from the 6^th month and it is foreseen that the prices of raw materials will fall. Petkim's representative also gave a general information on the issue and underlined that they are focusing on the domestic market.

Stating that petrochemical investments should be implemented and the rate of use of recycled raw materials should be increased in order to facilitate access to raw materials, the representatives underlined that the recently established Turkey Waste and Recycling Industry Council within TOBB is very important. Members were briefed on the Council’s work.

Participants who noted the importance of progress through TOBB in supply shocks and issues affecting the industry. They noted it would be useful to organize large-scale meetings of TOBB-affiliated chambers with members of the relevant professional committees and members of the Plastic, Rubber and Composite Industry Council. Plastic, Rubber and Composite Industrialists stated that they will act in unison under TOBB’s umbrella.