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Will PVC prices ever come back to the pre-pandemic levels?

by Esra Ersöz - eersoz@chemorbis.com
  • 07/05/2021 (07:32)
It is no longer big news for industry players when we say PVC markets have seen fresh record-highs across the board in 2021 amidst a crippled shortage of supply following an uninterrupted upward trend for a full year. Even though Europe remains bullish with another round of sizable hikes in May, Asia, Turkey, Brazil and Egypt are now seeing downward corrections in PVC prices.

Demand concerns have recently started to mount particularly in India, the world’s largest PVC importer, upon the deepening Covid crisis, which has naturally outshined the long-lasting supply woes. Accordingly, the sentiment in China and Southeast Asia has followed suit.

Resistance has built in Turkey and Brazil against relentless hikes much earlier than Asia, since these two countries saw the sharpest gains in the past one year and became the most expensive markets due to their dependence on imports. The emergence of irregular origins particularly from China has triggered the downward corrections in these two markets.

Nevertheless, most players in Turkey concur that never-ending force majeures from Europe may continue to cushion the downturn in PVC markets, unlike the sharp falls observed in PP and PE markets.

Now players are seeking an answer to the questions of whether PVC supplies will ever find relief. Will sellers consent to pull prices back to pre-pandemic levels?

Click to see our detailed free whitepaper, analyzing the state of supply-demand dynamics as well as the sustainability of renewed hikes in PVC markets.

PVC - Prices - Supply





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