Competitive Chinese, S. Korean Offers Drag India PVC Market Closer to Pre-War Levels

Competitive import offers from China and South Korea are pushing Indian PVC prices lower, drawing them closer to levels seen before the geopolitical tensions. The Indian PVC market has been experiencing a steady decline as competitive pricing from these countries exerts downward pressure.

China's domestic PVC market has also seen a significant reversal, with prices now back to January levels. This decline is attributed to rising operating rates, weak futures performance, and persistent oversupply concerns. Additionally, sluggish activity in the construction and property sectors has limited demand recovery.

In Southeast Asia, import PVC prices have retreated significantly from their highs, pressured by slow demand from construction-related sectors and the rainy season. Suppliers have adjusted offers lower to stimulate sales, reflecting the broader trend across the region.

The geopolitical premium that once lifted PVC prices across Asia has largely disappeared, with market direction now driven by fundamentals such as weak demand and comfortable supply conditions.