January PVC prices in Türkiye test firmer ground amid global indications

Türkiye’s PVC market entered January with renewed hike attempts from sellers, encouraged by a combination of firmer global cues and rising cost pressures. Price discussions shifted upward as changes in China’s export policy, elevated freight rates, and climbing oil futures strengthened sellers’ resolve, even though demand remained fragile. While negotiations are still ongoing, the market tone has clearly moved away from the weakness seen in most of 2025.

US PVC pioneers January hikes

One of the key drivers behind the firmer sentiment was the latest pricing move from a major US PVC producer. Dutiable K67 import prices were assessed $10/ton higher on the week at $660–680/ton CIF Türkiye, cash, with American-origin offers dominating the range.

Market sources noted that US PVC had been offered near $650/ton CIF earlier in the week, before the producer’s hike announcement triggered higher sell ideas. Following the move, offers of up to $700/ton CIF on deferred payment terms circulated, although these levels had yet to be confirmed by deals.

In addition, American PVC prices rose in nearby Egypt this week, with sellers pointing to high freight rates and limited allocations.

European sellers test hike attempts despite subdued regional dynamics

European suppliers also tested modest gains in the non-dutiable segment, despite subdued fundamentals within the region. K67 was assessed at $705–730/ton CIF Türkiye, cash, with Egyptian volumes anchoring the low end, while the upper end edged up by $5/ton week over week on the back of fresh European offers.

This came even as lower January ethylene settlements and weak post-holiday demand in Europe limited producers’ pricing power at home. Several players suggested that initial hike attempts from Europe could eventually be revised to rollovers, as price discussions inside the region increasingly tilted toward small concessions of €5–15/ton. It remains to be seen whether climbing spot ethylene prices in Europe will aid sentiment next month.

PVC demand lags behind PP and PE so far

Demand in Türkiye, meanwhile, has yet to catch up with sellers’ firmer ambitions. Buying interest remained largely need-based, with PVC converters reluctant to commit to large volumes amid tight liquidity and uncertain downstream orders. The market has not seen a meaningful improvement in consumption so far, raising questions over how much of the announced hikes can be absorbed in the near term. Buyers remained cautious, with a manufacturer remarking that only $20/ton increases appeared workable at best under current demand conditions.

Global cues support near-term outlook

Still, supportive factors continue to underpin the market outlook. Among them, China’s PVC prices gained further traction in mid-January after the government announced the removal of the 13% export tax rebate from April, prompting exporters to lift offer levels. Turkish players reported receiving ex-China offers around $30/ton higher following the policy shift, with elevated container costs reinforcing the upward pressure. Following the news, import PVC offers rose by $20-30/ton in India, where converters are now returning to the market to replenish depleted inventories after muted buying in November and December and competitive Chinese offers disappeared.

Now, market participants in India widely expect a major Taiwanese producer to announce higher February offers, with increases of $20-40/ton seen as likely.

Climbing oil futures—Brent above $65/bbl and WTI above $61/bbl earlier this week before erasing part of their gains—have also lent cost-side support, keeping sellers firm as negotiations continue. While demand recovery remains the missing piece, global signals suggest Türkiye’s PVC market may hold onto its firmer tone in the near term, with attention now turning to finalized deals and the impact of the upcoming Chinese New Year holiday on global PVC sentiment.