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Turkish PVC market stands still30 Apr 2021 / ChemCourier. PVC Market Weekly / prices & market situation

Turkey

Delivery terms

Unit

30 Apr 2021

23 Apr 2021

Change

2 Apr 2021

Change

May 2021*

CFR Turkey (US origin К65)

$ / t

1820–1880

1850–1900

-25

**

20

CFR Turkey (EU origin К67)

$ / t

1940–1960

1940–1960

1920–1980

20

CFR Turkey (EU origin К70)

$ / t

1980–2050

1980–2050

1980–2050

20

FOB S.Arabia K67 (May)

$ / t

1580–1600

1580–1600

1580–1600

*Forecast **no shipment

 

 

 

 

 

Chem-Courier data

 

The Turkish PVC market has been quiet this week. In addition to low trading activity during Ramadan, the president has decided to place the whole country on a 17-day strict lockdown. Although PVC producers will keep working as they are in the exception list together with the food and some other industries, it will be harder to sell finished goods in view of the new restrictions in Turkey. ‘PVC demand is low, but is still better than for other polymers,’ a trader has told PVC Market Weekly. Few new sales offers have been made in the country this week. Although European producers have yet to announce new monthly prices, some of them have production issues and others may prefer selling more material domestically to exporting it to Turkey. Some Kazakhstani traders have started providing Turkish customers with Chinese acetylene-based PVC on a CPT basis, according to market players. Also, some lower offers from the Far East have been heard of this week, but most buyers used such prices only to bargain for discounts on other grades without any intention to buy. PVC supply has been adequate this week because of low buying interest in Turkey.

Slow domestic trade has depressed PVC prices in the country this week. Small quantities of European K67 have been heard quoted at $1,9501,970/t CFR Turkey. The US commodity has been on offer at $1,8201,880/t CFR Turkey. Traders have reported that Mexichem has sold a few K67 cargoes at $1,960/t CFR Turkey, as well as K58 and K70 ones at $2,0202,040/t CFR Turkey. Chinese acetylene-based K67 from Kazakhstan has been put on the market at $1,750/t CPT Turkey. The South Korean producer LG has been put K67 grade up for sale at $1,900/t CFR Turkey for May shipment. Some buyers have found Pakistani K67 at $1,745/t CFR Turkey. Egypt's Sanmar and EPC have been selling their material of the same grade at $1,710/t FCA plant and $1,780/t FCA plant respectively. Delivery on a CFR basis from this country will cost $3050/t more. European K67 and K70 have been available ex stock at $2,4002,500/t inclusive of VAT and $2,6502,800/t inclusive of VAT respectively. Russian and Iranian K70 has cost $2,600/t when shipped from a bonded warehouse.

The Turkish PVC market will be quiet next week. Prices are likely to slip $1020/t because of slack demand and general expectations of a further decrease. Supply of the US and the European resin will remain limited. Market players expect demand and prices to start moving up after Ramadan.

Petrochemicals and Polymers

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