The Turkish PVC market has been uneventful this week. The polymer prices have continued rising amid growing market uncertainty and increased energy costs. PVC consumers have had very little interest in purchasing owing to the current market conditions. End users have reportedly started lowering their capacity to consume less PVC and decrease production costs in this difficult period. ‘We are also hesitating to buy large volumes because of weak demand. Each week, we are trying to understand the customers’ mood and adjust the prices correctly, but most offers are rejected,’ a trader has told PVC Market Weekly. The resin availability has been limited in Turkey this week. ‘It may seem like there are enough offers of different origins, but the best ones disappear very quickly as the volumes are very limited,’ a market player has commented. In addition, the delivery from Asia and the USA is expensive and takes a long time, which can be unacceptable to some customers.

PVC prices have moved up in Turkey this week. European K67 has been on offer at $2,100—2,150/t CIF Turkey. Kem One was heard trading in K70 at $2,080/t CIF Turkey early this week, but it was sold out immediately. The USA-origin K65 and K70 have been available at $1,750—1,800/t CIF Turkey and $1,850/t CIF Turkey. South Korean suppliers have been quoting these grades at $1,950/t CIF Turkey and $2,050/t CIF Turkey. Chinese K67 has been changing hands at $1,800/t CIF Turkey, but higher prices of up to $1,850—1,900/t CIF Turkey have also been present in the market. K70 of the same origin has been quoted at $1,900—1,920/t CFR Turkey for bulk shipment and at $2,100—2,150/t CFR Turkey for container one. Some suppliers have been selling out stocks of the Ukrainian and Russian K67 at $1,990—2,000/t FCA Turkey and $2,000/t CIF Turkey respectively. Mexican K67 and K70 grades have cost $2,100—2,120/t CIF Turkey and $2,150/t CIF Turkey. Domestic market K67 and K70 prices have been assessed at $2,500—2,600/t and $2,800—2,900/t including of VAT.

The Turkish PVC market will be stable next week. Prices may increase by another $10—30/t depending on global political events and feedstock value. Supply will be sufficient on persistently low demand.