SupplyMonday, 29 June 2026·India
Competitive Chinese, South Korean Offers Push India PVC Market Closer to Pre-War Levels
India’s import PVC market remained under pressure this week as weak demand and abundant supply continued to weigh on sentiment. Despite increasingly competitive offers from Northeast Asian suppliers, buying activity stayed limited, with many processors and traders preferring to remain on the sidelines.
Import prices have fallen significantly from the highs recorded earlier this year, bringing the market much closer to levels seen before the Middle East conflict. The sharp correction has been driven by persistent oversupply across Asia, sluggish seasonal demand, and uncertainty surrounding India's tariff policy developments.
Chinese and South Korean suppliers have been leading the price competition, with both origins reducing offers in an effort to attract buyers. South Korean material has moved closer to Chinese pricing levels, intensifying competition in an already weak market. However, lower prices have done little to stimulate purchasing activity as buyers continue to expect further declines.
Market participants described trading conditions as extremely quiet, noting that ample availability and slow consumption have limited fresh inquiries. Many buyers are adopting a hand-to-mouth purchasing strategy, waiting for greater clarity on market direction before making larger commitments.
Exporters across the region also pointed to weak demand and falling upstream costs as key factors behind the ongoing decline. Additional export availability from China has further increased supply pressure, while cautious buying from India and Southeast Asia has kept regional sentiment bearish.
Meanwhile, India’s domestic PVC market has shown a different trend. After experiencing a sharp correction earlier in the year, local prices have gradually regained their traditional premium over imported material. This shift has been driven more by weakness in imports than by any meaningful improvement in demand.
Looking ahead, market fundamentals remain soft. The monsoon season continues to slow construction and infrastructure activity, while uncertainty over trade policies is discouraging forward purchases. With supply levels remaining comfortable and buyers maintaining a cautious approach, market participants expect PVC prices to face further pressure in the near term.
Stay ahead of market trends with the Credco app. For any queries, please reach out via WhatsApp at +91 8448083211.
Import prices have fallen significantly from the highs recorded earlier this year, bringing the market much closer to levels seen before the Middle East conflict. The sharp correction has been driven by persistent oversupply across Asia, sluggish seasonal demand, and uncertainty surrounding India's tariff policy developments.
Chinese and South Korean suppliers have been leading the price competition, with both origins reducing offers in an effort to attract buyers. South Korean material has moved closer to Chinese pricing levels, intensifying competition in an already weak market. However, lower prices have done little to stimulate purchasing activity as buyers continue to expect further declines.
Market participants described trading conditions as extremely quiet, noting that ample availability and slow consumption have limited fresh inquiries. Many buyers are adopting a hand-to-mouth purchasing strategy, waiting for greater clarity on market direction before making larger commitments.
Exporters across the region also pointed to weak demand and falling upstream costs as key factors behind the ongoing decline. Additional export availability from China has further increased supply pressure, while cautious buying from India and Southeast Asia has kept regional sentiment bearish.
Meanwhile, India’s domestic PVC market has shown a different trend. After experiencing a sharp correction earlier in the year, local prices have gradually regained their traditional premium over imported material. This shift has been driven more by weakness in imports than by any meaningful improvement in demand.
Looking ahead, market fundamentals remain soft. The monsoon season continues to slow construction and infrastructure activity, while uncertainty over trade policies is discouraging forward purchases. With supply levels remaining comfortable and buyers maintaining a cautious approach, market participants expect PVC prices to face further pressure in the near term.
Stay ahead of market trends with the Credco app. For any queries, please reach out via WhatsApp at +91 8448083211.
