SHANDONG GAOXIN CPVC K57 (J500) in Mundra

The Indian polymer market remains subdued amid monsoon-driven demand slowdown and global freight issues. While domestic suppliers offer incentives to stimulate sales, geopolitical tensions—especially the Strait of Hormuz crisis—are driving crude prices higher, impacting raw material costs. BIS compliance deadlines are also reshaping sourcing behavior toward certified domestic suppliers.

PVC K67 prices in Mundra range from ₹64,500 to ₹68,750/MT, with Chinese SG5 grades leading on price. Despite strong 10% YoY demand growth, oversupply and Chinese dumping have pressured international prices, now 25% lower than FY 2022–23. India’s PVC market is poised for structural change, with BIS certification and anti-dumping duties kicking in by mid-2025.

PVC prices in Asia rebounded 3% amid improved buying sentiment and a US–China tariff delay. DAGU, FORMOSA, and LG grades saw regional pricing spreads in India, while XINFA remained most competitive. Tight freight space and rising costs—driven by export redirection to the US—are sustaining upward price pressure despite cautious downstream demand.

PVC prices rose ₹1–1.25/kg in India amid freight tightness and pre-BIS certification buying. Polypropylene and polyethylene prices continued correcting due to subdued global demand and aggressive discounting. Despite tariff relief optimism, buyers remain cautious. Chinese plant shutdowns may support PE prices ahead, while anti-dumping duty uncertainty clouds the PVC outlook.

Imported PVC K67 prices at Mundra range from ₹63,900–₹68,250/MT, varying by origin. Despite brief stabilization, April ended with a 4.7% price drop. Elevated inventories, high production rates, and weak futures continue to weigh on sentiment. The market remains bearish, with limited downstream interest and weak cost support in May 2025.

India's polymer market is witnessing a major shift in 2025, with fewer MoUs and a stronger push toward flexible, spot-based procurement. Prices remain high across key regions, while trading companies and digital platforms gain importance. Polyethylene demand is surging, prompting structural changes in supply strategy and sourcing behavior.

Polymer prices in India reflect cautious trading amid global oversupply and weak demand. XINFA PVC K67 is at ₹64,000/MT in Bhiwandi; HDPE PE100 at ₹92,520/MT in Delhi. PP and PE segments are under pressure, with incentives failing to spur demand. Anti-dumping measures may offer limited support for PVC prices.

PVC prices slipped slightly this week, with China's SG-5 averaging $655.48/ton, down 0.48%. Demand stayed weak across Asia and Europe, while US export prices held steady amid trade uncertainty. Stable production and low downstream activity kept the market sluggish. Market players expect PVC prices to stay range-bound in the near term due to weak demand and geopolitical pressures.

Polymer markets remain cautious amid falling crude prices and U.S. tariffs. PE and PP buyers are holding back, anticipating further price drops. PVC demand is hit by cheaper imports, prompting anti-dumping duty action. Key price cuts from JPFL and RIL signal inventory pressure. Markt players await clarity on trade and pricing trends before major moves.