Turkish players gauging effect of new regulation on US PVC
According to some large-scaled buyers, the new regulation will not have much impact on the market as they already secure this origin with re-export licenses and hence do not pay the anti-dumping tax. However, even though Turkish converters import US PVC for re-export purposes, the new regulation will increase the landed cost of US PVC for non-re-export converters by at least 14-15%.
“Buyers are making inquiries, but they do not seem as willing to buy these days because of the revised antidumping duties on American PVC. As a result of the latest revision, the limit for letters of guarantee provided by banks has to be raised. Consequently, only financially strong companies will be able to continue buying this origin. Some of our regular customers of American origin have recently started to ask for Brazilian or Asian origins instead,” reported a trader.
Players are now wondering whether this will lead to a decline in the market share for US PVC in Turkey after the US had been the number one PVC supplier to Turkey for the past few years. Imports of US PVC stand at around 50,000 tons for the first five months of this year, falling in second place in the list of top suppliers as France overtook the US by exporting more than 72,000 tons of PVC to Turkey in the first five months, according to ChemOrbis Import Statistics.
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