Turkish PET bottle markets diverge as costs lift imports, demand hits locals post-Eid

PET bottle markets in Türkiye showed a clear divergence after the Eid al-Adha holiday, with import prices supported by higher feedstock and freight costs, while local prices declined further on weak domestic demand. Buyers remained on the sidelines, limiting trading activity and pressuring sellers between rising costs and soft consumption.

Imports rise on cost support despite buyer resistance

Import PET bottle prices from China edged up over the week following the holiday break, supported mainly by firmer freight rates and higher feedstock costs.

Upstream sentiment improved early in the week as Brent and NYMEX crude futures rosedged up on a weekly basis following last week’s notable losses. The gains filtered through the polyester chain, pushing PX $45/ton higher, PTA up by $40/ton, and MEG up by $10/ton in Asia’s spot markets. Although oil prices came down on Thursday following a ceasefire agreement between Israel and Lebanon, feedstock markets continued to provide support to PET production costs at the time of writing.

Still, the increase in import prices remained limited. Turkish buyers showed little interest in accepting higher offers, while softer export indications from China capped sellers’ pricing ambitions. As a result, the import market posted only a modest gain despite the stronger cost environment, and the sustainability of this week’s tiny gains was under discussion.

Local market extends downtrend

In contrast, domestic PET bottle prices extended their decline in the first week after the holiday period, underscoring the lack of momentum in post-Eid demand recovery, with limited impact from earlier gains in crude oil futures.

One domestic producer cut its June list prices by $50/ton compared with early May to $1520/ton not inc. VAT, cash, while most other suppliers were centered around $1550/ton.

Market participants noted that the expected seasonal uplift for the summer has yet to materialize, leaving sentiment broadly subdued. Weak buying interest and ample supply continued to pressure local sellers, forcing further price concessions despite firmer upstream costs. The latest round of reductions marked another step in the post-Eid correction, further widening the gap between domestic and import markets and reinforcing the fragmented pricing structure in Türkiye’s PET bottle segment.



Demand remains the missing piece

The PET bottle segment is expected to remain under pressure in the coming weeks as buyer resistance persists amid tight financials, and the anticipated seasonal demand recovery has yet to materialize. Although producers may seek support from firmer transportation costs, demand may continue limiting pricing power unless it shows a solid uptick since both import and local prices still carry huge premiums from pre-war levels, according to ChemOrbis data.

Without a meaningful improvement in consumption, market participants expect cost-driven increases to struggle to gain broader acceptance, keeping trading activity subdued and sentiment cautious.