European k67 hits above $1000 first time in 6 months in Turkey
by ChemOrbis Editorial Team - content@chemorbis.com
In Turkey, PVC players have started to return from the long Eid holiday albeit slowly this week. The sentiment is hinting at a bullish trend, as was predicted in the last ChemOrbis Analysis before the holiday.
Supply woes from the US amidst force majeure declarations at three PVC makers following Hurricane Harvey along with higher September ethylene settlement in Europe and a firm trend in China amidst soaring ethylene prices in Asia have naturally paved the way for higher offers from Europe.
A West European producer’s initial offers emerged higher than August, sending k67 prices from the region to above $1000/ton for the first time since April.
The producer’s most recent prices are reported at $1020/ton for PVC k67, $1070/ton for k58 and $1100/ton for k70, CIF Turkey, cash no duty, buyers and traders confirmed. A profile maker said, “We also expect to receive September offers from another regional producer above $1000/ton later today.”
“We might not hear any clear American PVC offers this week as producers are not able to set their fresh prices amidst the ongoing supply problems in the country. A lack of US cargos will continue to support higher European offers over the near term,” a trader said.
Supply woes from the US amidst force majeure declarations at three PVC makers following Hurricane Harvey along with higher September ethylene settlement in Europe and a firm trend in China amidst soaring ethylene prices in Asia have naturally paved the way for higher offers from Europe.
A West European producer’s initial offers emerged higher than August, sending k67 prices from the region to above $1000/ton for the first time since April.
The producer’s most recent prices are reported at $1020/ton for PVC k67, $1070/ton for k58 and $1100/ton for k70, CIF Turkey, cash no duty, buyers and traders confirmed. A profile maker said, “We also expect to receive September offers from another regional producer above $1000/ton later today.”
“We might not hear any clear American PVC offers this week as producers are not able to set their fresh prices amidst the ongoing supply problems in the country. A lack of US cargos will continue to support higher European offers over the near term,” a trader said.
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