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Will higher European PVC offers find acceptance in Turkey?

by ChemOrbis Editorial Team - content@chemorbis.com
  • 06/06/2017 (18:51)
Initial PVC offers from Europe are showing up higher in Turkey despite lower ethylene settlements in the region. However, market players found new June levels unworkable in the first place considering that they are up by $60/ton when compared to the most recent levels for European origins. Plus, Mexican PVC is still available this week at $920-930/ton CIF, not subject to duty.

There are also some sellers who also found the new European level too high to find acceptance. However, they believe that the market is set to firm up due to emerging concerns about lack of supplies.

A large trader commented, “US PVC offers have been on a firming note. Supply from Russian, Egyptian and other European producers has also diminished. Many distributors also skipped building stocks during the downturn of the past few months in the PVC market, which paves the way for possible increases.”

Meanwhile, a manufacturer argued that Petkim might limit their allocations this month. “Limited supply alternatives may push the PVC market higher, even though it is not supported by real demand or upstream chain,” he commented.

US k67 offers were last reported at $890-900/ton CIF, cash. Egyptian k67 offers stand at $910-920/ton on CIF, cash basis, indicating an increase of $20/ton on the low end from last week.
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