SE Asia’s Import PVC Market Returns to Pre-Rally Levels; $600/ton Becomes Key Focus

Southeast Asia’s import PVC market continued its downward trend in the final week of June, with prices falling back to levels last seen before the sharp rally triggered by Middle East tensions earlier this year. Increasingly competitive offers from major suppliers, weak regional demand, and ample availability pushed the market close to the important $600/ton CIF benchmark.

The latest decline effectively erased the entire geopolitical premium that had accumulated during the conflict period. After surging to multi-year highs in late March, import PVC prices have now returned to levels seen in February, reflecting a complete reversal of the earlier rally.

Several deals for Chinese ethylene-based PVC K67 were reported around $610/ton CIF Vietnam during the week, while US-origin cargoes were heard at $630-640/ton CIF. The aggressive pricing has intensified discussions about whether the market could soon slip below the $600/ton level.

PVC Market Journey

Pre-Conflict Level (Feb 2026): $650-730/ton CIF

Conflict Peak (Mar 2026): $990-1100/ton CIF

Current Market (Jun 2026): Around $610-640/ton CIF

Overall Correction from Peak: Nearly 40%

Current Position: Back to pre-rally levels

Market sources noted that buying activity remains limited as converters continue to purchase only for immediate requirements. Many buyers expect additional declines and prefer to stay on the sidelines rather than build inventories.

Chinese suppliers continued to lower offers amid weak export demand. With India entering its monsoon season and import activity slowing, exporters have increasingly focused on Southeast Asian markets, intensifying competition within the region.

At the same time, oversupply and high inventory levels in China have continued to weigh on sentiment. Although producers are facing shrinking margins, abundant material availability has prevented any meaningful recovery in export prices.

US-origin PVC has also become more competitive, adding further pressure on the market. The combination of weak demand, comfortable supply, and aggressive export offers has kept the overall outlook bearish.

Looking ahead, market participants believe the $600/ton CIF level will be the next major test for Southeast Asia’s PVC market. With no significant demand recovery visible and buyers maintaining a cautious approach, the market is expected to remain under pressure in the near term.

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