PVC hikes do not pause in Turkey
The import market witnessed further increases between $10-20/ton for duty free European and Mexican (with ATR document) cargos for PVC k67 when compared to last week to be reported at $940-980/ton CIF, cash. A trader reported, “Tight availability keeps Turkey’s PVC market strong. We are mulling over issuing further price hikes next week,” a trader reported.
American PVC k67 offers were steady to $35/ton higher at $860-910/ton CFR Turkey, subject to 6.5% customs and 18.81% antidumping duty, cash equivalent. An agent of a US producer noted, “We received higher offers for December shipment cargos from our supplier based on higher European and Asian prices. We hope to shake hands with some converters soon.”
In the local market, offers were extremely scarce due to short prompt supplies with k67 prices standing at $1200-1220/ton ex-warehouse Turkey, cash inc VAT earlier this week. “PVC k67 stocks are quite tight which caused this product to trade with a premium over k70 and k58,” players said.
Manufacturers project additional price gains over the near term as they admit, “We are struggling to find material. Some buyers called us to ask if we have extra inventories for them. The market will sustain its firmness in the coming days despite the rising dollar/TL parity and other financial issues.”
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Tight supplies keep Asian PVC markets bullish
- Crude oil market sentiment turns in favour of bulls
- Will European PVC take a breather from 9-month downtrend in February?
- Supply limitations bolster Feb PP and PE outlook in Turkey
- China’s import PP markets climb to 6-month highs prior to Lunar New Year
- Weak activities press import PE, PP suppliers for discounts in Egypt
- Price erosion continues inside Middle Eastern polyolefins markets
- European PP, PE markets open 2023 with renewed drops
- Tight supply keeps expectations bullish in Turkey’s PVC market
- End of China’s ‘zero-COVID’ stance: Double-edged sword for Asia PVC, PP and PE markets