Revised anti-dumping duties on US polyvinyl chloride imports into Turkey may boost demand for material from Europe, market sources said.
“There may be a little rebound in Turkish prices, because of availability and pressure from European producers,” a European trade source said Wednesday.
Opportunities for European producers do not extend to Germany, as German PVC also faces revised anti-dumping rates.
The Turkish Ministry of Economy and the Board of Evaluation of Unfair Competition set new anti-dumping rates earlier this month.
US PVC imports face a duty of 18.81% of the CIF value and German PVC imports face 16.64% of the CIF value.
Previously, anti-dumping fees on imports were set at $45/mt for US deliveries and $25-45/mt for German imports.
PVC stocks in Turkey are low after a period of quiet trading activity and European producers offer the most promptly available material, although producers in other regions can offer cheaper PVC.
Market activity in Turkey has been low because of the Ramadan and Eid holidays and political uncertainty following elections in June.
This has affected the currency, with the dollar rising 19.15% against the lira since Platts began assessing in December.
Some US volumes are re-exported, so not liable for anti-dumping duty or import duty of 6.5%.
However, US imports into Turkey are now uncompetitive, with cheaper offers from Asia and South and Central America.
“Some buoyant signs are coming from the Turkish market, most probably caused by the increased [anti-dumping duty] levied on US and German products,” a European producer said Tuesday.
Turkish import prices have fallen steadily since reaching $1,000 CFR Turkey in May, their highest this year.
Prices were $800/mt in February, the lowest since recovering to $1,200 CFR Turkey after the crash in 2008.
They were assessed at $893/mt CFR Turkey Wednesday. European prices were heard pegged at $900-930/mt CFR Turkey, with no duty applicable.
Brazilian prices were heard pegged at $840/mt CFR Turkey, plus import duty of 6.5%.
