US PVC dealt with remarkable drops in Turkey

Import PVC prices continued to move down throughout this week in Turkey in response to stagnant buying interest, heading to the year-end. Today, a large scaled buyer reported purchasing American PVC k67 at around $850/ton CIF Turkey, subject to 6.5% duty and 18.81% ADD, cash, which pushed the overall US range down by $40-50/ton from the range reported earlier this week.

“We expect American offers to come down further in November and therefore, we are avoiding building up large stocks for now,” said the buyer.

Previously, players already commented that suppliers were open to negotiation in return for firm counter bids from converters considering the overall weakness of demand in Turkey.

American PVC prices followed a bearish trend in other export destinations as well this week with offers in China and Egypt moving further down below the $900/ton threshold. Moreover, US PVC showed up in Vietnam this week at $850/ton CIF and provided a competitive edge among other origins.