PVC hikes do not pause in Turkey

In Turkey, both import and local PVC markets added to their price gains this week. Prices hit the highest levels in the last 18 months in both markets, according to ChemOrbis Price Wizard. Short availability continued to push prices up and kept activity vivid despite the nearing year end.

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.”