K67 PVC Import Market in Turkey Sees Corrections Amid Weak Buyer Demand

Turkey’s PVC market has entered a more balanced, yet still fragile phase in the second half of April, as strong price rallies triggered by Middle East disruptions begin to face resistance from buyers. After weeks of continuous increases, the market has started to stabilize, with traders revising import offers downward due to weak demand and growing uncertainty around geopolitical developments.

Traders Adjust Prices as Buying Interest Slows

Import prices for K67 PVC have declined for the second consecutive week, mainly driven by reductions in higher-priced offers, particularly from U.S. suppliers. These adjustments have pulled the overall price range lower, even though replacement costs remain elevated.

The corrections reflect limited purchasing activity, as many processors had already secured inventories during the earlier surge in March. With stocks in hand, buyers have become increasingly reluctant to commit to new deals at historically high price levels.

Attempts earlier this month to push prices to around $1,100/ton for U.S. cargoes and $1,300/ton for European material failed to gain traction, as demand softened across all origins. Higher-end offers continue to struggle, highlighting a widening gap between seller expectations and what buyers are willing to pay.

Prices Ease but Remain Significantly Elevated

Recent price adjustments indicate a decline of around 5–7% compared to late March levels. Despite this correction, current prices are still substantially higher—up by roughly 40–50% since the onset of the Middle East conflict—keeping the market near multi-year highs.

Chinese Supply Adds Downward Pressure

Chinese-origin PVC has emerged as a major competitive force, with offers becoming more aggressive in recent weeks. Export prices from China have dropped noticeably, driven by oversupply—especially in acetylene-based grades—and weak domestic demand.

Lower-priced Chinese cargoes are now putting additional pressure on the Turkish market, limiting the ability of other suppliers to maintain higher pricing levels.

Conflicting Signals Keep Market Direction Unclear

While some Asian producers have announced significant price increases for upcoming shipments, weak demand in key markets like India and Southeast Asia has offset upward momentum globally.

Looking ahead, the market remains uncertain. On one side, subdued demand and competitive offers suggest further downside potential. On the other, high production costs, tight European supply, and expectations of rising feedstock prices could provide support.

With the upcoming May holiday period likely to slow industrial activity, Turkey’s PVC market is expected to remain range-bound near elevated levels until clearer signals emerge on both supply and demand.

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