Türkiye PVC market retreats close to early March levels after 5 weeks of constant erosion

PVC market extended its downtrend for another week, with prices in Türkiye nearing levels last seen in early March as demand weakness deepened ahead of the upcoming Eid al-Adha holidays. Despite firmer upstream energy markets, buyers continued to pressure sellers with lower bids after weeks of consecutive corrections, leaving suppliers with little room to resist.

The sharpest pressure remained concentrated in PVC K67, where aggressive competition among origins and fading spot demand kept the market firmly in buyers’ favor.

Prices give back roughly one-third of war-driven gains in five weeks

According to ChemOrbis data, dutiable import PVC K67 prices in Türkiye have fallen by around 15.5% ($170/ton) from the late-March highs that emerged following the outbreak of the war, while duty-free prices have shed roughly 16.4% ($205/ton) over the same period. Meanwhile, the locally held market has lost about 13.3% ($210/ton) from its recent peak. Despite these corrections, prices remain above pre-war levels, with gains of 26.5% in the dutiable market, 33% in the duty-free segment, and 34% in the local market compared to late February.

US K67 breaks below $950 CIF Türkiye after a long time

In the import market, US-origin PVC drew the most attention this week after low-end offers slipped below the $950/ton CIF threshold for the first time in recent weeks. Market participants linked the bearish stance to weaker export benchmarks from the US Gulf, where prices reportedly dropped below $900/ton FOB amid sluggish global demand.

Ethylene-based Chinese material continued to anchor the low end of the range. Although Chinese sellers largely maintained their nominal offers unchanged around the low-$900s/ton CIF, buyers noted that many suppliers remained willing to negotiate further in the face of firm bids, suggesting that underlying market sentiment has yet to stabilize.



The duty-free segment also remained under pressure, with South Korean and Egyptian suppliers granting fresh discounts to secure business in an increasingly inactive market. Prices for duty-free K67 fell another $20–30/ton week on week, while some buy ideas reportedly dipped below the psychological $1000/ton CIF threshold.

Market participants increasingly pointed to the approaching holidays as a key factor curbing fresh purchases, as many converters preferred to delay replenishment amid expectations that suppliers may continue to soften their stance in the coming weeks. The persistent weakness in downstream demand, coupled with comfortable availability, continued to outweigh any potential support from feedstock costs.

Mystery surrounds European PVC suppliers

Another notable feature of the market has been the increasingly visible two-tier structure among European sellers. Although most major European PVC producers have continued to refrain from issuing official CIF offers to Türkiye, players widely believe that certain traders and suppliers have been quietly placing material from bonded warehouses at discounted levels.

This strategy appears aimed at reducing existing inventories without formally resetting market benchmarks through fresh shipment offers. Participants also noted that weakening demand across Europe itself may be encouraging some sellers to pursue more discreet sales channels into Türkiye. As a result, the market has remained adequately supplied despite the apparent lack of visible European participation. Record-high PVC imports seen in March, combined with softer domestic consumption, have also contributed to the current oversupply environment, even as neighboring Iran continues to face severe supply disruptions and asks for material from Türkiye.

Local PVC K67 tracks falling import prices

Meanwhile, the locally held PVC market continued to register fresh lows, with most transaction levels now leaning below the $1400/ton mark, including VAT. Local K67 prices were assessed down $30–40/ton from the previous week. Market players said distributors are increasingly focused on reducing inventories before the holiday slowdown becomes more pronounced, prompting additional concessions, particularly for standard K67 grades. With demand expected to remain subdued in the short term, players are now watching whether activity in both resin and downstream sectors can recover after the Eid holiday break, while broader developments in global PVC markets continue to point to a demand-driven weak outlook despite firmer crude oil prices.