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US PVC offers resurface at competitive levels in Egypt, Turkey

by Merve Sezgün - msezgun@chemorbis.com
  • 08/04/2021 (03:43)
PVC players in Egypt and Turkey reported that US PVC offers resurfaced at competitive levels this week after more than a month. The last time US offers were reported regularly and competitively was around mid-February, right before the severe winter storm paralyzed US production.

US PVC K67 offers were reported in both markets at a wide range this week, with the low ends offering relatively attractive levels of $1800s/ton CIF.

Egypt: Mixed opinions on availability from US

In Egypt’s import PVC market, players reported an increased number of US K67 offers this week at a range of $1790-1820/ton CIF, 90 days ($1825-1856/ton including 2% customs duty).

Players’ opinions on the supply from the US were mixed, meanwhile.

“We noticed an increased amount of US PVC offers this week,” a few players said. This was in line with a continued recovery in PVC operating rates in the US.

“Buyers refrain from fresh purchases in anticipation of seeing further price cuts amid a possible increase in the number of US offers,” a distributor also commented.

On the other hand, other players believed that availability from the country was still limited amid ongoing shutdowns at OxyChem and Shintech’s PVC plants. Plus, force majeures declared by OxyChem, FPC USA, and Westlake in mid-February remain in effect, as ChemOrbis Production News Pro suggests.

Turkish players: Competitive US offers are not for new shipments

Meanwhile, in Turkey, American PVC offers remained rare and formed a wide range this week.

A few offers were reported at competitive levels of $1800-1835/ton CIF on the low end amid muted demand from buyers. “These may be for short sales or material with old costs,” noted some players, pointing to still-limited exports out of the US in the aftermath of a polar storm back in February.

Nonetheless, offers for new shipment cargoes as high as $1900-1920/ton CIF saw tepid demand with no transactions being confirmed at the time of press.
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