PVC Market Declines Amid Weak Demand and Falling Crude Prices (March 12, 2025)

China’s PVC market continues to face downward pressure due to weak domestic and export demand, declining crude prices, and broader economic uncertainties. Increased supply, as fewer plant maintenance shutdowns occur, has further weighed on prices.

Local carbide- and ethylene-based PVC prices dropped by $15-25 per ton this week, hovering near historic lows. Export prices also softened, with ethylene-based K67 at $630-655 per ton and acetylene-based K67 at $600-630 per ton. Indian demand remains sluggish, with some Chinese shipments confirmed as low as $665 per ton CIF India.

Market participants are closely watching April offers from a major Taiwanese producer, following price cuts in March. Downstream demand remains weak, particularly in the struggling property sector. With crude prices falling and buyers cautious, PVC prices are expected to stay under pressure in the near term.

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