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Buying interest for American PVC cargoes fades in Turkey

by ChemOrbis Editorial Team -
  • 17/03/2015 (17:39)
In Turkey, buying interest for American PVC cargoes has been subdued recently as US offers have been losing their competiveness against European offers, according to players. Traders continue to report that US offers remain firm on the back of several plant shutdowns in the country, stronger spot ethylene prices and producers’ claims about seeing good demand.

This week, American PVC k67-68 offers have been reported at $890-920/ton CFR Turkey, subject to 6.5% customs and $45/ton anti-dumping duty, cash. A trader receiving an offer on the high end commented that sellers can hardly make sales at these levels given the presence of attractive European offers, which were reported at $925-960/ton CIF Turkey, cash no duty basis this week.

“As the gap between European and US PVC prices is quite narrow, few players will be interested in American cargoes. It is difficult to make sales at $920/ton CIF for US k67 when European origins are being sold at $925/ton CIF. Under balanced market conditions, US cargoes should be $60/ton below European material to ensure smooth sales for American cargoes,” commented a trader.

A buyer, who reported receiving a US offer within the range mentioned above, commented that they would not take the risk of securing US cargoes with long delivery dates and using their re-export license at this level as European materials are offering a more competitive edge.
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