Turkey’s PVC Market Faces Tangible Price Hikes After a Long Hiatus

PVC price increases in Turkey accelerated through February, with the latest round of hikes pushing K67 levels to multi-month highs. Since the beginning of 2026, dutiable K67 has risen by a cumulative $85/ton, while duty-free material has gained $65/ton, driven by tightening supply and firm seller stances. Although buyers attempted to resist the rapid increases, the bullish momentum stimulated buying activity.

Reduced US Availability Drives 13% Increase

Dutiable K67 prices climbed by a further $20/ton on the week to $720–740/ton CIF Turkey, cash, reaching their highest level since March 2025. Market participants reported no new US shipments below $720/ton CIF, as turnarounds at several American plants curtailed output and encouraged suppliers to push for higher prices.

Reduced US volumes, along with China’s planned abolition of the 13% VAT export tax rebate effective April 1, have acted as key catalysts behind the sharper uptrend. For Chinese-origin material, some offers were reported near $740/ton CIF, while others indicated difficulty obtaining fresh quotations due to the Lunar New Year holiday. The temporary absence of active Chinese offers further tightened supply. No new Russian shipments were confirmed at the time of writing, although limited prompt volumes were heard at elevated FCA levels, subject to customs duty.

Duty-Free K67 Nears $800/ton CIF

In the non-dutiable segment, K67 prices rose by another $20/ton to $770–790/ton CIF turkey, cash, marking the highest weekly average since August 2025. The range included South Korean, Egyptian, Qatari, and European origins. Lower-end European offers reportedly disappeared quickly, and tightening availability across several suppliers pushed prices closer to the $800/ton CIF threshold, reinforcing the supply-driven nature of the rally.

Buyers Cautious but Active

The rapid pace of increases has unsettled converters, particularly those concerned about passing higher resin costs on to export markets. Despite resistance to upper price levels, buying interest persisted, as fears of further hikes—even during the Ramadan period—prompted some players to secure volumes.

However, market participants acknowledged that the market may require time to absorb the current highs, especially if downstream demand weakens or factories temporarily shut for holidays.

Firm March Outlook

The near-term outlook remains firm, supported by reduced US output, limited spot availability, and resilient European pricing. Rising prices in Egypt have also reinforced bullish sentiment. Some Turkish market participants expect European producers to test the $800/ton CIF level soon.

Attention is now focused on post-holiday developments in China and the impact of the upcoming removal of the VAT export tax rebate. Demand conditions in India will also play a role in shaping the medium-term direction. For now, Turkey’s PVC import market continues to reflect a supply-led rally, with sellers maintaining strong control.

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