China’s S-PVC Exports Slide Further in July as India’s Share Drops

China’s suspension PVC (S-PVC) exports weakened further in July, marking the second straight monthly decline after shipments had remained at exceptionally high levels during the first half of 2026. Data from ChemOrbis Stats Wizard showed exports falling below 220,000 tons, recording significant declines on both a monthly and yearly basis.

The slowdown came as China continued to depend heavily on international markets to absorb domestic PVC availability. After unusually strong export activity earlier in the year, trade flows began to normalize as overseas purchasing patterns changed and the effect of the first-quarter export surge gradually diminished.

July Shipments Decline on Monthly and Yearly Basis

China’s S-PVC exports decreased by around 29% month on month and 35% year on year in July 2026. This followed a decline of more than 21% in June compared with May, making July the second consecutive month of falling shipments.

The latest drop marks a clear moderation from the very strong export volumes seen during the first half of the year. Shipments rose sharply in February and March as exporters moved cargoes ahead of the withdrawal of China’s 13% export tax rebate. Exports then recovered strongly in May after a significant correction in April.

Despite July shipments falling below 220,000 tons, China’s total exports for the first seven months of 2026 remained at historically elevated levels, highlighting the country’s growing significance in global S-PVC trade.

Export Revenue Falls at a Faster Pace

China’s S-PVC export value stood at approximately $151 million in July, declining 34% from June and 25% compared with July 2025.

The larger drop in export value relative to volume suggests that lower average export prices also contributed to the reduction in revenue. Earlier in 2026, stronger PVC prices, particularly during periods of supply disruption and geopolitical uncertainty, had helped offset fluctuations in shipment volumes.

July data therefore indicates that both export volumes and prices moderated compared with the elevated levels recorded earlier in the year.

India’s Share Falls While Vietnam Gains

India remained the leading destination for China’s S-PVC exports in July, but its share dropped substantially from the previous month. India accounted for 16% of total Chinese S-PVC exports, compared with 30% in June.

Vietnam came close behind, taking 15% of China’s total shipments in July, up from 11% in June. The much smaller gap between the two destinations reflects the sharper decline in shipments to India during the month.

Russia ranked third, accounting for 6% of China’s S-PVC exports. This was a change from June, when Indonesia held the third position with a 4% share.

The shifting destination rankings show that China’s PVC export base is becoming increasingly diversified. India continues to be an important market, but its share has varied significantly during 2026, while Southeast Asian and other regional destinations are gaining a larger role in China’s overseas PVC trade.

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