Asian PVC Market Softens Amid Monsoon Lull and Cautious Buying

Key Highlights:

• PVC prices in China fell by $10/mt; India held steady at $680–720/mt CFR
• Seasonal slowdown, weak construction activity weigh on demand across Asia
• Formosa and China National Salt announce plant maintenance shutdowns
• Recovery expected in Q3 2025 as post-monsoon demand picks up in India and Vietnam

PVC Market Price Overview

• PVC prices saw a softening trend in China, while other Asian markets remained largely stable:
• China: Suspension-grade PVC assessed at USD 680–710/mt CFR, down by USD 10/mt week-on-week. 
• Southeast Asia: PVC prices assessed stable at USD 670–700/mt CFR.
• India: PVC assessed flat at USD 680–720/mt CFR.
• Taiwanese major Formosa offered:
  1. S65D/S65/S60/S70: USD 730/mt
  2. S57 & B57: USD 740/mt
  3. For LC 90 days: Add USD 10/mt
  4. Offers reduced by USD 15/mt from the previous round.

PVC Market Demand & Supply Dynamics

As per the report published by "polymerupdate", PVC markets across Asia are facing seasonal and economic slowdowns:

• China: 
  1. Prices declined due to dampened demand
  2. Buyers remain inactive, tracking the market cautiously.
• Southeast Asia & Vietnam:
  1. Demand remains weak, particularly in Vietnam, where heavy seasonal rainfall has delayed construction.
  2. A demand rebound is expected in October post-monsoon as infrastructure projects resume.
• India:
  1. Seasonal monsoon impact has led to sluggish construction activity and limited import appetite.
  2. Domestic supplies are adequate, further reducing urgency for imports.
  3. Buyers are cautious, resisting higher offers amid weak downstream demand from construction, manufacturing, and retail.

PVC Market Industry News

• Major Taiwanese suppliers have lowered PVC offers, aligning with weakening sentiment across Asia.
• China National Salt to shut its 100,000 mt/year PVC unit in Inner Mongolia from 25 July to 2 August 2025 for maintenance.
• Formosa Plastics Corp. (FPC) plans to shut its 70,000 mt/year PVC plant in Ningbo, China, during August–September 2025.
• EDC: Steady at USD 205–215/mt CFR China and USD 215–225/mt CFR SEA.
• VCM: Flat at USD 500–510/mt CFR SEA and USD 545–555/mt CFR China.
• Ethylene: Rolled over at USD 825–835/mt CFR SEA and USD 815–825/mt CFR NEA.

Market Expectation: Mild Recovery Likely from September

The PVC market is likely to remain subdued in the near term due to: Persistent seasonal slowdown from monsoons. Cautious buyer sentiment driven by economic uncertainty and tariff concerns. Mild support expected post-monsoon, particularly from Vietnam and India, as infrastructure and construction demand gradually revives from September–October 2025.