European PVC and Turkish: Contracts drop in weak sentiment- Low demand at year's end- December contracts drop Eur50-52/mtThe European spot market for PVC ended in a
subdued state Dec. 21. This was despite an increase in global prices. Fears of recession and inflation kept consumer
demand subdued, which in turn limited discretionary spending in a weak
construction market. This impacted the housing market as interest
rates were higher and companies, national and regional governments, were unable
or unwilling to justify new infrastructure projects. Pre-existing
corporate debt is becoming more expensive, which has weighed heavily on new
government spending. Consumers were also restricting their spending
on big-ticket items like home improvements and auto purchases. However, with
inflation rising, they were also less likely to spend on everyday household
goods. The contract market was affected by producers...