Turkey PVC Market Falls Back Near Early March Levels After Five Weeks of Declines

Turkey’s PVC market continued to weaken for the fifth consecutive week, with prices falling close to levels last seen in early March as weak demand and cautious buying activity kept pressure on sellers ahead of the Eid al-Adha holidays.

Despite stronger upstream energy markets, PVC buyers continued seeking lower prices after weeks of continuous corrections, forcing suppliers to soften their offers further. The biggest pressure remained concentrated in PVC K67 grades, where aggressive competition between different origins and fading spot demand continued to favor buyers.

PVC prices erase a large portion of war-driven gains

Recent market data shows that import PVC K67 prices for dutiable origins in Turkey have declined by roughly 15–16% from the highs reached in late March following the outbreak of the regional conflict. Duty-free PVC K67 prices also recorded similar declines over the same period, while locally held material posted notable corrections as well.

Even after the recent declines, however, PVC prices in Turkey still remain above levels seen before the conflict began earlier this year.

US PVC offers move below key levels

In the import market, US-origin PVC attracted significant attention after low-end offers slipped below the $950/ton CIF Turkey level for the first time in several weeks.

Market participants linked the softer pricing to weaker export values from the US Gulf region, where sluggish global demand has continued pressuring PVC prices lower.

Chinese ethylene-based PVC cargoes also continued anchoring the lower end of the market. Although many Chinese suppliers kept official offers relatively stable, buyers reported that sellers remained open to additional negotiations as market sentiment stayed weak.

The duty-free segment also remained under pressure, with suppliers from South Korea and Egypt offering additional discounts in an attempt to secure business in the increasingly slow market. Some buying ideas were even heard below the psychological $1000/ton CIF level.

Holiday slowdown weakens purchasing activity

Traders said the approaching Eid holidays have become one of the key reasons behind weak buying activity, as many converters are delaying fresh purchases while expecting sellers to offer further discounts in the coming weeks.

Weak downstream demand and comfortable supply availability continued outweighing support from higher feedstock and crude oil costs.

European suppliers remain active through indirect channels

Another major discussion point in the market has been the unclear strategy of European PVC suppliers.

While many major European producers have not officially announced fresh CIF offers to Turkey, market players believe certain traders and suppliers are quietly selling material from bonded warehouses at discounted prices.

This approach appears aimed at reducing inventories without officially lowering benchmark shipment offers. Weak demand conditions in Europe are also reportedly encouraging suppliers to seek alternative sales channels into Turkey.

As a result, the Turkish market has remained adequately supplied despite limited visible participation from mainstream European producers.

Large PVC import volumes seen earlier this year, combined with softer domestic consumption, have also contributed to oversupply conditions in the market.

Local PVC market continues sliding lower

Turkey’s local PVC market also continued moving downward, with many transaction levels now falling below the $1400/ton mark including VAT.

Distributors have reportedly become increasingly focused on reducing inventories before the holiday slowdown intensifies further, leading to additional discounts particularly for standard K67 grades.

Market participants are now closely watching whether demand in both resin and downstream sectors can improve after the Eid holidays, although the broader outlook for global PVC markets remains weak as demand-side pressure continues dominating sentiment despite firmer crude oil prices.

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