BGC PARTNERS - PETKIM: Naphtha Spread continues to be strong
PETKM - POSITIVE: Ethylene-naphtha spread averaged at US$746/ton in Feb-18, increasing by 35% YoY due to better demand YoY and supply issues. The spread had deteriorated in 4Q17 compared to 3Q17, parallel to rising crude oil prices (leading to higher naphtha prices), increasing supply, cautious buying activity and inventory depletion towards the year end. Meanwhile, Platts Petrochemical Index, which is an indicator of the overall profitability in the sector averaged at 1,078 levels in Feb-18 vs. Feb-17 average level of 1,029, improving by 5% YoY.Petkim Petrokimya Holdings is engaged in the production of petrochemical products. The product portfolio of Co. comprises goods such as thermoplastics, fibers, and raw material for paints, products which constitute primary inputs for a number of industries. These products are also used for the plastic, chemical, packaging, piping, paint, construction, agriculture, automotive, electricity, electronics, and textiles industries, as well as the pharmaceutical, detergent, and cosmetics sectors. Co. sells its products in the domestic market and in international markets.
BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.
We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:
- Mergers & Acquisitions
- Equity Capital Markets
- Debt Finance & Advisory
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