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Turkey’s local PVC market hits 5 month high

by ChemOrbis Editorial Team - content@chemorbis.com
  • 10/11/2016 (10:02)
In Turkey, the bullish trend in the import PVC market coupled with tight prompt availability pushed the locally-held PVC market to a 5-month high. Prices are currently standing at the highest levels on average since mid-May, according to ChemOrbis Price Wizard.



Source: Price Wizard

The overall PVC k67 range is reported at $1150-1200/ton ex-warehouse Turkey, cash inc VAT. The range soared $30-50/ton in a time frame of one week, while it indicates a larger gain of $60-80/ton compared to a month ago.

Turkish distributors report achieving vivid sales since last week as tight supplies generated buying interest, particularly for prompt or nearing PVC cargoes, despite a traditionally low season.

A profile manufacturer confirmed, “We are struggling to find prompt material nowadays although we need to purchase. This stems from reduced allocations from Europe.” Some traders also said, “European PVC sources are allocating limited quotas to Turkey. Some producers are facing upstream shortages including for EDC and VCM, meanwhile.”

This time last year, however, the local PVC market had been on a bearish path in Turkey. Prices had displayed a relentless decreasing trend starting from June last year until they bottomed out and rebounded by early February this year.
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