SupplyThursday, 25 June 2026·India
Competitive Chinese and South Korean Offers Pull India PVC Market Near Pre-Conflict Levels
India’s import PVC market remained under pressure this week as buyers continued to delay purchases despite increasingly attractive offers from Northeast Asian suppliers. Ample supply availability, weak seasonal demand, and uncertainty surrounding upcoming trade policy decisions have intensified competition among exporters, pushing prices closer to levels seen before the conflict-driven rally earlier this year.
The average import PVC K67 market in India has now fallen significantly from its late-March peak. Current prices are roughly 30% lower than the highs recorded during the rally and carry only a modest premium of around $50/ton compared with pre-conflict levels, indicating that most of the earlier war-related gains have already disappeared.
Chinese and Korean Suppliers Intensify Competition
Competition at the lower end of the market has become increasingly aggressive as Chinese and South Korean suppliers attempt to attract limited buying interest.
South Korean PVC offers were reported around $720-725/ton CIF India, while Chinese ethylene-based K67 cargoes were heard near $740/ton CIF India. The narrowing gap between the two origins reflects growing pressure among suppliers to secure orders in a market where buyers remain highly cautious.
Market participants described trading activity as exceptionally slow, with many buyers avoiding fresh commitments despite the availability of competitively priced material. Abundant inventories and sluggish downstream consumption have reduced urgency across the supply chain, leaving sellers struggling to generate meaningful demand.
Oversupply and Weak Demand Continue to Weigh on Market
Exporters across Asia pointed to persistent oversupply and falling upstream costs as key reasons behind the ongoing weakness.
Indian buyers have also remained cautious ahead of the June 30 deadline for the country's temporary customs duty exemption, creating additional uncertainty for import decisions. As a result, deal activity has remained limited, with most buyers choosing to purchase only when necessary.
Meanwhile, increased export availability from China has added further pressure to regional markets, as suppliers continue searching for overseas outlets amid soft domestic demand.
Domestic PVC Regains Premium Over Imports
While import prices have continued to decline, India’s domestic PVC market has followed a somewhat different path.
After experiencing a sharp correction earlier in the year, local PVC prices gradually regained their traditional premium over imported material. During the peak of the market disruption, domestic PVC was trading at discounts of up to $80/ton compared with imports — an unusual situation for the Indian market.
Over recent weeks, however, the relationship has normalized. Domestic PVC currently trades at a premium of approximately $160/ton over imported material, representing a significant turnaround from the discount levels seen earlier.
Bearish Fundamentals Remain Intact
Despite the recovery in domestic premiums, market participants generally agree that overall fundamentals remain weak.
The monsoon season continues to slow construction and infrastructure-related demand, while uncertainty over import duties is discouraging forward buying. At the same time, supply remains abundant across Asia, and buyers continue to follow a hand-to-mouth purchasing strategy.
With additional export volumes expected from China and demand showing little sign of improvement, most market participants believe PVC prices could remain under pressure in the near term as the remaining conflict-related premium continues to fade.
Stay ahead of market trends with the Credco app. For any queries, please reach out via WhatsApp at +91 8448083211.
The average import PVC K67 market in India has now fallen significantly from its late-March peak. Current prices are roughly 30% lower than the highs recorded during the rally and carry only a modest premium of around $50/ton compared with pre-conflict levels, indicating that most of the earlier war-related gains have already disappeared.
Chinese and Korean Suppliers Intensify Competition
Competition at the lower end of the market has become increasingly aggressive as Chinese and South Korean suppliers attempt to attract limited buying interest.
South Korean PVC offers were reported around $720-725/ton CIF India, while Chinese ethylene-based K67 cargoes were heard near $740/ton CIF India. The narrowing gap between the two origins reflects growing pressure among suppliers to secure orders in a market where buyers remain highly cautious.
Market participants described trading activity as exceptionally slow, with many buyers avoiding fresh commitments despite the availability of competitively priced material. Abundant inventories and sluggish downstream consumption have reduced urgency across the supply chain, leaving sellers struggling to generate meaningful demand.
Oversupply and Weak Demand Continue to Weigh on Market
Exporters across Asia pointed to persistent oversupply and falling upstream costs as key reasons behind the ongoing weakness.
Indian buyers have also remained cautious ahead of the June 30 deadline for the country's temporary customs duty exemption, creating additional uncertainty for import decisions. As a result, deal activity has remained limited, with most buyers choosing to purchase only when necessary.
Meanwhile, increased export availability from China has added further pressure to regional markets, as suppliers continue searching for overseas outlets amid soft domestic demand.
Domestic PVC Regains Premium Over Imports
While import prices have continued to decline, India’s domestic PVC market has followed a somewhat different path.
After experiencing a sharp correction earlier in the year, local PVC prices gradually regained their traditional premium over imported material. During the peak of the market disruption, domestic PVC was trading at discounts of up to $80/ton compared with imports — an unusual situation for the Indian market.
Over recent weeks, however, the relationship has normalized. Domestic PVC currently trades at a premium of approximately $160/ton over imported material, representing a significant turnaround from the discount levels seen earlier.
Bearish Fundamentals Remain Intact
Despite the recovery in domestic premiums, market participants generally agree that overall fundamentals remain weak.
The monsoon season continues to slow construction and infrastructure-related demand, while uncertainty over import duties is discouraging forward buying. At the same time, supply remains abundant across Asia, and buyers continue to follow a hand-to-mouth purchasing strategy.
With additional export volumes expected from China and demand showing little sign of improvement, most market participants believe PVC prices could remain under pressure in the near term as the remaining conflict-related premium continues to fade.
Stay ahead of market trends with the Credco app. For any queries, please reach out via WhatsApp at +91 8448083211.
