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Turkey’s local PVC market shows rapid run-up in prices amid tightness

by ChemOrbis Editorial Team -
  • 17/11/2016 (03:34)
In Turkey, the local PVC market has been following a bullish trend since mid-October, which has been tracked by rapid hikes this week due to deepening tightness both in the local and import market in the face of vivid buying interest. PVC allocations from Europe remained severely tight and prompt supply diminished even further this week. In addition, good demand in the Chinese market reinforced the strong sentiment and kept US sellers firm on their offers to Turkey.

This week, local offers have risen around $30/ton on the week so far while the upward trend represents an unusual pattern compared with the same period of previous years as can be seen from ChemOrbis Price Wizard.

“Supplies are severely tight. We limit our purchases to 50-60 tons to meet our urgent needs only. Players are not sure the reason why European suppliers refrain from supplying to Turkey. We think that they are diverting their allocations to the Indian market; however, the removal of high denomination currency notes from circulation in India may hinder trading activities significantly there and prices may see some correction if a West European PVC producer resumes their allocations to Turkey. We think that the current prevailing market levels are inflated,” said a plastic end manufacturer.

A trader reported that their sales are smooth this month thanks to the ongoing tightness. “A West European producer still limits their quotas to Turkey. For the near term, we expect to see further increases of $15-20/ton as buyers’ need-only based purchases keep the market tight,” added the trader.

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