PVC lags behind bullish January trends in Türkiye’s polymer markets

Prices started the new year on a stable to firm note, supported by low margins and some availability concerns that boosted confidence among PVC sellers in Türkiye. However, supply worries have recently eased, and demand has waned following large-scale purchases in late 2024. This shift caused the stronger sentiment to fade by mid-January. Alongside slight discounts in the import market, particularly at the high end, the local market also saw price declines, ending a four-month uptrend driven by tight prompt stocks.

US sellers test hikes in January, but to no avail

PVC has diverged from the upturns seen in most other polymers, including PP and PE, this month. Despite sellers’ firm stance earlier in January, the market began to falter under cautious demand as 2025 commenced, with attention focused on the impact of ADD (anti-dumping duty) announcements from India and the European Union on several import origins. The off-season, which weighed heavily on domestic end-user demand, and parity issues, which dampened export activity, further contributed to the failure of hike attempts by import suppliers in Türkiye.

This week, the dutiable import PVC K67 range was assessed $10/ton lower as American PVC offers faced strong resistance from converters. The previously firm sentiment waned following news that the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) had reached a tentative six-year contract, eliminating the risk of a port strike at key US ports. With supply concerns easing, buyers began giving lower counter bids late last week. A manufacturer commented, “We are reluctant to accept any price hikes as we struggle to pass higher resin costs onto our end customers. We will push for rollovers, if not decreases.”

Chinese PVC emerges on low end of market

Adding to the scene was a Taiwanese major’s lower February announcements to Asia, which drove import PVC prices in the key Indian market to their lowest levels in more than two years.

Additionally, relatively easing freight rates from Far East Asia and surplus supply in China facilitated the flow of PVC K67 offers from China to Türkiye. While these cargoes -offered about $70/ton below December- were not widely confirmed by the broader market and their quantities remained unclear at the time of writing, their prices positioned them at the low end of the market.

A trader said, “Indeed, some Chinese sellers tried to lift their export prices for ethylene-based grade this week, counting on higher Dalian futures market. Yet, demand stayed muted and excess supply continued to weigh on the sentiment. If ocean container prices sustain their downtrend amid the nearing holidays in China, we may hear more Chinese cargos in the coming term.”



Local PVC turns down for first time in months

In the local market, PVC K67 was assessed $30/ton lower due to reports about more players being able to obtain discounts for readily available materials. A player commented, “Improved production at the domestic producer, Petkim, coupled with waning activity following December purchases led to moderate discounts in the local channel.”

The market may continue to witness a tug of war between buyers and sellers, driven by rising upstream costs on one side and low buying appetite on the other. If supply continues to ease in the coming days, the local market could see additional discounts.

Players will closely monitor the global flow of materials into Türkiye in the coming period, considering the recent trade barriers across the board, while supply tightness seems to have seen some relief. Still, sellers expect the market to hover close to the prevailing price levels counting on some delivery delays for European and US cargos stemming from the Christmas break and harsh winter conditions. Some buyers expressed their hopes to see an uptick in business following the holy month of Ramadan, which starts on March 1 this year.