‘The market is really quiet,’ a Turkish player has commented. Buying activity has decreased to zero this week as market players have already completed most February deals. The availability has been tight from European suppliers; however, it has been adequate for the poor demand. K70 is reportedly becoming scarcer than K67 in the domestic market. Converters also reported weak interest for their end products in Turkiye. In addition, individuals’ solvency is deteriorating due to the economic instability in the country. The national currency has been weakening against the US dollar lately. As of 29 February, the USD/TRY exchange rate was 31.2.

European PVC has been quoted at $890—920/t CFR for K67 this week, which is $15/t higher than last week. ‘We heard offers are between $900—940/t CFR for European origins, but it seems high-end prices do not work at the moment,’ a market player has added. K70 has been quoted stable week on week; however, deals at $920/t CFR have been heard this week as well. Old stocks of Mexican PVC are priced at $900/t CFR Turkiye for K67 and $960/t CFR Turkiye for K70. Egyptian PVC by Sanmar has been available at $900—940/t CFR Turkiye for April shipment this week. US PVC prices are growing uncertainly in the country, quoted at $800—840/t CFR, and it is hard to sell at higher ends. Taiwanese and South Korean PVC have been unworkable in the region.

PVC prices are expected to remain stable next week. Market players believe further increases in PVC prices will be challenging. The demand is anticipated to be stable to low next week, disappearing by mid-March as Ramadan festivals commence. PVC availability will be low but sufficient to satisfy the current demand.