Europe PVC export price falls on low demand, weak Turkish market

Source: ICIS News

2018/09/14

LONDON (ICIS)--European polyvinyl chloride (PVC) export prices and prices in Turkey fell this week as demand remains low, according to sources on Friday.

European FOB (free on board) NWE (northwest Europe) export prices were assessed at $815-825/tonne, down $10/tonne on the low end and $40/tonne on the high end.

The transport cost from Europe to Turkey is estimated at $40-50/tonne.

European offers stood in the high $800s/tonne CFR (cost and freight) in Turkey, with prices in the $900s/tonne CFR mostly going out of the market.

Turkish PVC demand remains low as a result of the financial and currency crisis.

The Turkish lira rebounded somewhat against the dollar following the Turkish central bank's decision to raise interest rates to 24% on 13 September, up from 17.75%.

However, the lira remains much weaker against the dollar than at the beginning of 2018.

There were few offers for other destinations quoted in Turkey this week, although US PVC was quoted in the low $900s/tonne CFR for K67/K65 grade.

Customs duties and anti-dumping rates in Turkey are as follows:

Region PVC anti-dumping PVC customs duty Europe excluding Germany - - Germany 16.64% - Egypt - - Mexico - - Korea - - Indonesia - 6.5% Ukraine - 6.5% Russia - 6.5% Saudi Arabia - 6.5%

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