PVC prices across Asia stayed flat this week, with traders largely unmoved despite rising global oil prices and persistent geopolitical tension. Market participants pointed to balanced supply and demand as the main reason for the quiet tone.
A regional source told that even with crude continuing its upward climb amid the Russia-Ukraine conflict and the threat of new U.S. sanctions on oil producers, PVC quotations from leading Asian producers for October matched September levels. Ample inventories and smooth availability left buyers in no rush, creating little pressure for either increases or cuts.
China’s market reflected that stability, with PVC assessed at USD 690–710 per metric ton CFR, unchanged from the previous week. A Taiwanese producer held offers at USD 710 for October shipment. Domestic demand remained soft ahead of the National Day holiday, while exports faced stiff price competition. Local futures supported slight gains in ethylene- and carbide-based PVC, but plentiful supply capped any momentum.
Southeast Asia mirrored the calm, with prices steady at USD 650–680 CFR. Offers from Taiwanese suppliers were rolled over at USD 670–680 for October shipment. Activity slowed further as traders paused ahead of holidays, keeping deals to a minimum.
India’s market showed similar restraint. PVC held at USD 730–760 CFR, with Reliance Industries extending price protection through early October and Taiwanese producers keeping offers flat at USD 760 for a range of suspension grades.
Pakistan’s prices stayed at USD 695–725 CFR as flooding and heavy rains curbed downstream demand. Market participants expect eventual post-monsoon reconstruction to lend support, but for now supply remains ample and buyers hesitant. Sri Lanka and Bangladesh echoed the trend, each market steady within previous ranges as weak demand met generous regional supply.
Upstream, India extended the deadline for mandatory BIS certification of EDC and VCM to September 12, 2026, giving producers and importers more time to comply. Feedstock markets were similarly uneventful: EDC held at USD 185–195 CFR China and USD 195–205 CFR Southeast Asia, while VCM stayed at USD 505–515 CFR China and USD 540–550 CFR Southeast Asia. Ethylene slipped slightly to USD 840–850 CFR Northeast Asia and remained at USD 835–845 CFR Southeast Asia.
Plant news offered the only flicker of movement. Hanwha Solutions plans to shut its Ulsan PVC No.1 unit, with a capacity of 210,000 metric tons per year, for a week of maintenance starting November 4. Its No.2 PVC unit, capable of 95,000 metric tons per year, will also undergo a turnaround from November 4 to 10.
Overall, the region’s PVC market is entering the holiday stretch with abundant supply, soft demand, and little inclination to shift prices until trading resumes in earnest later in the season.
