Türkiye polymer distribution markets ease slightly amid demand fatigue, but remain well above pre-war levels

In Türkiye, some distributors have corrected their offers —particularly at the upper end—amid slowing demand following the sharp price hikes seen since the US–Iran conflict escalation in late February. The supply shock triggered by the Middle East war—most notably the closure of the Strait of Hormuz and damage to certain regional facilities—has led to significant cumulative increases in prompt material prices over nearly two months.

Following the intense panic buying seen in March, demand began to ease by mid-April. At the same time, the emergence of relatively competitive Chinese-origin PP, PVC, and PE offers, along with fragile progress in ceasefire talks, has contributed to weekly softening in price ranges for some products. That said, prices remain well above pre-war levels, while supply from mainstream sources —particularly for import PE and PP— continues to be constrained.

Locally-held PP, PVC, and PE prices remain well above pre-war levels

According to weekly average data from ChemOrbis, locally held LDPE and LLDPE C4 film prices eased by 2% (around $50/ton) from last week, while HDPE film edged down by 1% (around $30/ton) as of mid-week. Despite these corrections, prices still reflect cumulative increases of 80% (around $1150/ton) for LDPE and 87% (around $1115–1125/ton) for LLDPE C4 film and HDPE film compared to pre-conflict levels.

For PP raffia, locally held prices edged down by 4.5% (around $110/ton) week on week, yet remained 81% (around $1030/ton) above late February levels. Meanwhile, PVC K67 prices were still up by 42% (around $425/ton) compared to two months ago, despite softening by 8.5% (around $135/ton) over the past two weeks.



PVC takes the lead in corrections as import offers also trimmed

PVC has been the segment where softening is evident. Unlike other polymers, import PVC prices have come under downward pressure since last week, in line with declines in China and India. This, coupled with weakening demand, has had a spillover effect on the distribution channel.

A pipe manufacturer said, “Following the outbreak of the war, PVC supply did not tighten as much as PP and PE. In fact, the Middle East is not the primary source for this polymer for Türkiye. Meanwhile, thinning availability from European producers and panic buying in March quickly pushed up resin prices. Recently, we have started to hear slightly more competitive PVC offers in the locally-held market compared to previous weeks as buyers’ affordability came to the forefront.”

At the time of writing, locally-held PVC K67 prices stood at $1420–1470/ton ex-warehouse Türkiye, cash including VAT, with last week’s $1500/ton or above fading and distributors still reporting limited buying interest toward the upper end. Meanwhile, tight prompt availability continued to support K58 and K70 prices at around $1700/ton or above, on the same basis.

Rally pauses for polyolefins, yet import tightness remains intact

Polyolefin markets have not softened to the same extent as PVC, while the rally paused. While some distributors have trimmed their high-end offers in response to growing buyer resistance, the locally held PP and PE markets appear to be searching for balance, signaling stabilization ahead of the May holidays rather than a clear downturn.

This week, the PPH market remained calm in terms of activity. In some cases, PP raffia prices moved below $2100/ton ex-warehouse Türkiye, including VAT, reflecting selective corrections. For LLDPE and HDPE film, the previous high of $2500/ton inc. VAT became scarce, as demand for prompt material cooled.

Import supply for both PP and PE remains tight, and traders’ cautious approach to stock replenishment could keep prompt availability limited into the summer months, according to market participants. As such, recent corrections should be viewed not as the start of a sustained downward trend, but rather as adjustments from previously unworkable levels in the face of demand fatigue.

A market player said, “It remains unclear when some mainstream Saudi Arabian plants will resume operations. Disruptions in the region have redirected Chinese flows not only to Türkiye but also to Southeast Asia, raising questions about the sustainability of competitive Chinese PP and PE offers and volumes in Türkiye. We plan to assess the post-Chinaplas landscape for clearer signals.”

Meanwhile, domestic producer Petkim has kept its PP offers stable over the past two weeks and has refrained from further PE hikes this week for the first time in several weeks. A distributor from southern Türkiye said, “We expect import volumes to remain tight throughout Q2 or even longer, even if the war ends. Therefore, prices may see only limited corrections and are unlikely to return to pre-war levels.”

A PE consumer said, “We may have reached a ceiling, as buyers have stopped purchasing beyond their immediate needs due to tight financial conditions and muted downstream demand in certain end-product markets. We plan to adopt a wait-and-see approach until fresh May offers emerge, amid volatile crude oil markets and an uncertain outlook for the Middle East conflict. Resin demand waned, but prompt distributor stocks are still low, and sellers do not push to sell much.”