Turkey’s Oct imports of European PVC plunge 62% on year
PVC supplies from Europe were reported to be extremely tight during the last few months although there was no considerable production disruption in the region. Some Turkish players attributed this situation to the fact that regional suppliers achieved good sales in other regions including China and India and elected to direct their cargos to those markets instead of nearby Turkey.
Contrary to traditional trends, European k67 in Turkey’s import PVC market has been trading with a premium over the local Italian market since mid-November due to rapid price hikes from traders. The ongoing shortness from Europe resulted in diminishing prompt stocks in the locally-held market in Turkey as well and brought remarkable price increases in the distribution market.
Turkey’s overall imports of PVC also fell around 25% from a month earlier to 38,538 tons in October. On a yearly basis, imports also dropped down about 48%. France was at the top of the October PVC import list with 14,984 tons, followed by Mexico (8,053 tons) and Spain (5,063 tons).
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