Türkiye’s PET bottle market surges due to costs and safeguard-led repricing in early January

Türkiye’s PET market kicked off the new year with a sharp upward correction, led by bottle-grade PET, as domestic prices jumped to their highest levels since December 2024. The move in the domestic market was driven by a regulatory action, most notably the introduction of a temporary $100/ton safeguard duty on bottle-grade PET imports, which swiftly lifted import costs and strengthened domestic pricing power.

Domestic prices jump to the highest since Dec 2024

Domestic bottle-grade PET prices posted a sharp and sudden jump, climbing near the $1100/ton ex-warehouse Türkiye, not inc. VAT level on the upper end as the new year began, marking their highest point since December 2024. This week, the overall local range was assessed $80-90/ton higher based on sellers’ price targets.

Market sources indicated that the move was driven primarily by the safeguard decision, which may curtail buying interest in import origins and cause buyers to turn to the local sources more, and cost pressure, rather than a recovery in demand.

Buyers largely stayed on the sidelines amid the rapid repricing. One buyer commented,” Current price levels look exaggerated, adding that while an upward trend is evident, achievable prices may still be lower for sizable volumes, prompting consumers to remain on hold and rely on existing inventories.”

The temporary safeguard targets bottle-grade PET (HS Code 3907.61.00.00.00) and will remain in force for up to 200 days during the investigation period. While the additional duty may be refunded should no definitive measure be adopted, most market players are already factoring it into current pricing decisions. By lifting import costs in the near term, the measure has shifted market leverage toward domestic producers, underpinning local price hikes despite muted demand.

Meanwhile, the launch of a safeguard investigation into PTA imports, a key PET feedstock, has added to cautious sentiment, pointing to broader regulatory scrutiny across the polyester value chain and reinforcing expectations that cost support may persist in the near term.

Imports face mounting cost pressure from freight and new measures

On the import side, Chinese bottle-grade PET offers came under intensifying cost pressure, as rising freight rates and higher feedstock values — with PX prices approaching the $900/ton CFR China threshold — coincided with the introduction of a temporary $100/ton safeguard duty, significantly lifting the effective cost of imported material. Import prices on a CFR Türkiye basis were assessed $30/ton higher from pre-New Year holiday period.

Adding to the scene were rising container prices on ex-Asia routes. According to Freightos Terminal FBX, last week’s rates moved sharply higher in most routes on the back of stronger ex-China pricing.

The firmer scene in Türkiye matched a stronger start to the year in Asia. In China and Southeast Asia, PET bottle markets started 2026 on a firm note, supported by higher feedstock costs and slightly improved market sentiment. China’s domestic and export prices climbed to five-month highs, while South Korean exports saw their first increases since mid-November. Import prices into Southeast Asia also rose, reaching levels not seen in over three months.

Demand yet to follow uptrend

Bottle-grade PET prices are expected to remain strong in the near term, supported by the ongoing safeguard investigation and elevated import costs. While buyers continue to adopt a wait-and-see stance, expectations of further increases may eventually prompt some restocking, particularly if import alternatives stay unattractive. Meanwhile, seller flexibility on large-volume deals will be tested in the coming days. Low winter season, coupled with buyers’ reluctance to pay steep hikes, may lead to more modest gains in transactions.