Tight supply keeps expectations bullish in Turkey’s PVC market

Turkey’s PVC markets have been on a bullish note since prices bottomed out in late November. Prices have continued to witness hikes, driven by supply, heading into the second half of January, while early February projections hint at further gains so long as supply tightness continues to pervade the markets.Import PVC offers surge by 28-30% in one-and-a-half month

The market came out of the trough in mid-Q4 last year following a 7-month bear run. Prices responded to supply cutbacks from Europe and the US, not to mention the spillover impact of a strong upturn in Asian PVC outlets, where notable hikes from a Taiwanese major and revived demand from India pushed prices north.

Import PVC K67 prices on a CIF Turnkey basis have soared by $220-230/ton (28-30%) on a weekly average since then, the weekly average data from ChemOrbis suggested. In other words, the market has returned to the levels seen in August 2022.

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