For the Quarter Ending December 2025
North America
• In USA, the Poly Vinyl Chloride Price Index fell by 5.33% quarter-over-quarter, reflecting inventory overhang.
• The average Poly Vinyl Chloride price for the quarter was approximately USD 545.00/MT across Q4.
• Poly Vinyl Chloride Spot Price reflected balanced domestic output and export flows supporting Price Index.
• Poly Vinyl Chloride Price Forecast indicates modest near-term weakness as imports and seasonal demand shift.
• Poly Vinyl Chloride Production Cost Trend remained contained due to lower ethylene costs, chlor-alkali margins.
• Poly Vinyl Chloride Demand Outlook shows steady housing and infrastructure demand, supporting cautious procurement inventories.
• Export inquiries and plant rate adjustments influenced the Poly Vinyl Chloride Price Index upward December.
• High plant operating rates and moderated inventories limited downside to Poly Vinyl Chloride Price Index.
Why did the price of Poly Vinyl Chloride change in December 2025 in North America?
• Balanced supply with export demand prevented steep declines despite domestic inventory accumulation and muted restocking.
• Lower ethylene costs offset by higher freight and winter logistics elevated delivered costs for regions.
• Tariffs and offshore arbitrage limitations tightened available spot volumes, reinforcing price support amid cautious buyers.
APAC
• In Japan, the Poly Vinyl Chloride Price Index fell by 6.97% quarter-over-quarter, driven by oversupply.
• The average Poly Vinyl Chloride price for the quarter was approximately USD 605.00/MT, market assessment.
• Poly Vinyl Chloride Spot Price weakened as ample imports and cautious distributors curtailed restocking activity.
• Poly Vinyl Chloride Price Forecast points to downside given elevated stocks and subdued construction demand.
• Poly Vinyl Chloride Production Cost Trend eased; softer ethylene and freight curtailed upward price support.
• Poly Vinyl Chloride Demand Outlook remains weak as construction activity slowed and converters restricted purchases.
• Poly Vinyl Chloride Price Index registered persistent twelve-week bearish pressure amid weak export enquiries.
• Elevated inventories at Tokyo and Osaka terminals constrained urgency, sustaining seller discounts across PVC grades.
Why did the price of Poly Vinyl Chloride change in December 2025 in APAC?
• Sustained import arrivals and steady domestic plant operating rates expanded supply, reducing domestic procurement urgency.
• Weaker upstream ethylene costs and lower freight reduced cost support, allowing sellers to trim offers.
• Muted construction demand, weak export enquiries and high inventories suppressed PVC offtake and pricing.
Europe
• In Germany, the Poly Vinyl Chloride Price Index fell by 5.8% quarter-over-quarter, reflecting weak construction demand.
• The average Poly Vinyl Chloride price for the quarter was approximately USD 807.00/MT, reflecting market conditions.
• Poly Vinyl Chloride Spot Price pressured by ample inventories and subdued converter procurement across German markets.
• Poly Vinyl Chloride Price Forecast indicates muted near-term upside as feedstock weakness and seasonal demand softness.
• Poly Vinyl Chloride Production Cost Trend showed weak ethylene influence while EDC stability limited margin recovery.
• Poly Vinyl Chloride Demand Outlook remains constrained by construction contraction, cautious procurement and substitution of materials.
• Poly Vinyl Chloride Price Index movements influenced by competitive imports, domestic production and weak export demand.
• High operating rates and ample stocks pressured offers, while selective infrastructure projects provided limited procurement support.
Why did the price of Poly Vinyl Chloride change in December 2025 in Europe?
• Weak construction demand reduced converter purchasing, creating buyer leverage and downward pressure on Price Index domestically.
• Softer ethylene and eased freight lowered production cost pressures, constraining producer offers and Price Index momentum.
• Ample inventories and competitive imports from nearby EU suppliers limited spot tightness and restrained price recovery.
MEA
• In Saudi Arabia, the Poly Vinyl Chloride Price Index fell by 4.61% quarter-over-quarter, driven by ample import supply.
• The average Poly Vinyl Chloride price for the quarter was approximately USD 799.33/MT, FOB Al Jubail.
• Poly Vinyl Chloride Spot Price softened on abundant discounted imports, exerting downward pressure on offers and margins.
• Poly Vinyl Chloride Price Forecast for early 2026 indicates modest recovery potential as construction demand seasonally strengthens.
• Poly Vinyl Chloride Production Cost Trend remained subdued due to flat feedstock EDC and stable utilities, limiting pressure.
• Poly Vinyl Chloride Demand Outlook is steady with Vision 2030 megaprojects underpinning construction-related offtake through spring.
• Poly Vinyl Chloride Price Index weakness reflected oversized import availability and subdued spot inquiries from downstream converters.
• Inventories remained adequate as port operations and steady domestic plant run-rates prevented supply disruptions, moderating volatility.
Why did the price of Poly Vinyl Chloride change in December 2025 in MEA?
• Balanced imports and steady domestic run-rates maintained available supply, underpinning neutral FOB pricing in December.
• Weak crude and flat EDC feedstock limited production cost support, reducing incentives for sellers to raise offers.• Improved logistics and calm Red Sea routes lowered freight premia, enabling discounted imported resin to pressure local prices.
South America
• In Brazil, the Poly Vinyl Chloride Price Index fell by 3.88% quarter-over-quarter, reflecting muted demand.
• The average Poly Vinyl Chloride price for the quarter was approximately USD 702.33/MT, CFR Santos.
• Poly Vinyl Chloride Spot Price held range-bound on CFR Santos imports, keeping Price Index steady.
• Poly Vinyl Chloride Production Cost Trend rose from ethylene and higher freight, pressuring distributor margins.
• Poly Vinyl Chloride Demand Outlook remains steady as infrastructure procurement supports consumption despite cautious buying.
• Poly Vinyl Chloride Price Forecast expects limited volatility; inventories, logistics and import parity remain supportive.
• Domestic Poly Vinyl Chloride Spot Price advantage from lower freight supported local purchasing, production runrates.
• Poly Vinyl Chloride Production Cost Trend increased, elevating Price Index sensitivity amid tight feedstock supply.
Why did the price of Poly Vinyl Chloride change in December 2025 in South America?
• Balanced import flows and steady domestic output maintained supply, preventing significant December price escalation.
• Rising ethylene and freight costs exerted pressure, offset by stable crude and import parity.
• Cautious buyer procurement, resilient infrastructure projects sustained baseline consumption, leaving Price Index effectively unchanged.
For the Quarter Ending September 2025
North America
• In the USA, the Poly Vinyl Chloride Price Index fell by 7.5% quarter-over-quarter, reflecting oversupply.
• The average Poly Vinyl Chloride price for the quarter was approximately USD 575.67/MT, according to analysts.
• Poly Vinyl Chloride Spot Price showed intermittent firming mid-September as feedstock tightness tightened producer offers.
• Poly Vinyl Chloride Price Forecast suggests limited upside near-term unless construction demand recovers significantly soon.
• Poly Vinyl Chloride Production Cost Trend remained muted as feedstock EDC and energy costs were largely stable.
• Poly Vinyl Chloride Demand Outlook remains weak as housing affordability and slow construction reduce consumption.
• Rising inventory and weak exports pressured the Poly Vinyl Chloride Price Index, reducing spot liquidity.
• Major Gulf-Coast producers maintained high run-rates, limiting short-term tightening despite modest export demand recovery observed.
Why did the price of Poly Vinyl Chloride change in September 2025 in North America?
• Elevated domestic inventories from steady production and weak construction reduced upward pricing pressure during September.
• Feedstock cost stability muted cost-push effects, while logistics remained normal, reducing immediate supply disruptions significantly.
• Export headwinds and tariff uncertainty pressured demand, keeping domestic volumes available and spot prices subdued.
APAC
• In Japan, the Poly Vinyl Chloride Price Index fell by 12.2% quarter-over-quarter, driven by oversupply.
• The average Poly Vinyl Chloride price for the quarter was approximately USD 1622.33/MT, reflecting softness.
• Poly Vinyl Chloride Spot Price eased after exporters discounted FOB offers, pressuring the Price Index.
• Poly Vinyl Chloride Production Cost Trend rose due to higher ethylene feedstock prices and freight.
• Poly Vinyl Chloride Demand Outlook remained muted; construction lull and cautious converter restocking limited purchases.
• Poly Vinyl Chloride Price Forecast suggests modest near-term recovery potential, yet Price Index volatility persists.
• High inventories and weak export demand pressured offers, prompting sellers to prioritize market share retention.
• Planned maintenance tightened regional availability briefly, while logistics constraints and currency swings influenced production costs.
Why did the price of Poly Vinyl Chloride change in September 2025 in APAC?
• Oversupply from competitive Chinese exports reduced buying interest, driving down domestic prices and spot volumes.
• Subdued construction demand and cautious converter restocking limited spot purchasing, weakening near-term Price Index momentum.
• Feedstock cost pressures and higher freight elevated production costs, while seasonal disruptions temporarily supported offers.
Europe
• In Germany, the Poly Vinyl Chloride Price Index fell by 4.18% quarter-over-quarter, due to weak demand.
• The average Poly Vinyl Chloride price for the quarter was approximately USD 856.33/MT, as reported.
• Poly Vinyl Chloride Spot Price remained under pressure amid balanced inventories and muted buying interest.
• Poly Vinyl Chloride Price Forecast signals range-bound near-term values as feedstock costs stay relatively stable.
• Poly Vinyl Chloride Production Cost Trend muted, with EDC and energy inputs steady, limiting cost-push.
• Poly Vinyl Chloride Demand Outlook stays subdued for converters, recovering with post-holiday restocking and infrastructure.
• Poly Vinyl Chloride Price Index reflected import competition and port logistics, constraining sellers' pricing power.
• Producers maintained steady operations, inventories adequate, while export flows moderated, keeping spot negotiation activity subdued.
Why did the price of Poly Vinyl Chloride change in September 2025 in Europe?
• Weak construction and subdued industrial activity reduced domestic PVC offtake across Germany and European markets.
• Sustained import flows and steady feedstock costs limited sellers' pricing power despite isolated logistical disruptions.
• Cautious buyer sentiment, just-in-time inventories and seasonal holiday shutdowns depressed spot demand and near-term purchasing.
MEA
• In Saudi Arabia, the Poly Vinyl Chloride Price Index fell by 1.45% quarter-over-quarter, reflecting softness.
• The average Poly Vinyl Chloride price for the quarter was approximately USD 838.00/MT, observed FOB.
• Poly Vinyl Chloride Spot Price eased mid-September due to refreshed imports and subdued construction buying.
• Poly Vinyl Chloride Price Forecast anticipates modest recovery post-monsoon as construction restocking gradually resumes thereafter.
• Poly Vinyl Chloride Production Cost Trend stayed muted as EDC and energy costs remained subdued.
• Poly Vinyl Chloride Demand Outlook stays cautious, with domestic infrastructure projects offsetting weaker residential demand.
• Poly Vinyl Chloride Price Index traded in narrow range, producers held offers amid balanced inventories.
• Logistics and freight fluctuations influenced margins, distributors monitored Poly Vinyl Chloride Price Forecast and procurement.
Why did the price of Poly Vinyl Chloride change in September 2025 in MEA?
• High inventory inflows and redirected Asian cargoes increased local supply, pressuring spot quotations and demand.
• Subdued construction and packaging activity reduced downstream buying, weakening average quarterly purchasing volumes across regions.
• Stable feedstock costs and functioning logistics limited cost-push, enabling sellers to maintain offers without hikes.
South America
• In Brazil, the Poly Vinyl Chloride Price Index fell by 6.0% quarter-over-quarter, amid weak demand.
• The average Poly Vinyl Chloride price for the quarter was approximately USD 730.67/MT CFR-Santos basis.
• Poly Vinyl Chloride Spot Price eased with ample inventories; Asian cargoes pressured Price Index lower
• Poly Vinyl Chloride Price Forecast indicates modest upside potential as seasonal construction temporarily supports demand
• Poly Vinyl Chloride Production Cost Trend reflected flat utilities, punctuated by higher freight, ethylene variability
• Poly Vinyl Chloride Demand Outlook remains weak amid high interest, subdued construction, and cautious buying
• High inventories and import competition kept the Price Index subdued, restraining producers from raising offers
• Buyer resistance to GRIs and tariff uncertainty, with logistics stability, limited upward Price Index pressure
Why did the price of Poly Vinyl Chloride change in September 2025 in South America?
• Surplus supply from steady domestic production and competitive Asian cargoes created oversupply, pressuring CFR Brazil pricing levels
• Weak construction demand and conservative restocking reduced offtake, reinforcing bearish short-term Poly Vinyl Chloride pricing
• Easing crude and flat utilities eased cost-push, while intermittent river and port delays affected availability
• The average Polycarbonate price for the quarter was approximately USD 1891.33/MT, per CFR Santos assessments.
• Polycarbonate Spot Price remained pressured by abundant imports, stable feedstock costs, and cautious converter purchasing.
• Polycarbonate Price Forecast shows modest upside risk later in Q4 as inventories gradually normalize seasonally.
• Polycarbonate Production Cost Trend remained muted as BPA and phenol prices held steady, limiting cost-push.
• Polycarbonate Demand Outlook stays soft from automotive weakness; electronics and medical applications provide steady offtake.
• Polycarbonate Price Index remained steady as freight and currency pressures were offset by imported offers.
• High inventories and steady import volumes constrained domestic Polycarbonate Spot Price and limited short-term upside.
Why did the price of Polycarbonate change in September 2025 in South America?
• Ample import arrivals and steady domestic output increased supply, pressuring spot availability and sellers' flexibility.
• Subdued automotive demand and cautious procurement reduced offtake, counterbalancing upstream freight and energy cost pressures.
• Logistics remained functional with minor route risks; currency moves, and tariff stability contained landed costs.
For the Quarter Ending June 2025
North America
• PVC Price Index in North America declined gradually through Q2 2025, reflecting subdued global demand and elevated inventory levels.
• In May 2025, PVC export prices fell by 2.4% as overseas demand weakened and supply pressures rose due to strong U.S. production and ample inventory.
• Stable domestic production and efficient logistics allowed U.S. producers to focus on exports, especially to Latin America, despite intensified price competition.
• June 2025 witnessed stable FOB USA prices, driven by balanced supply-demand dynamics and consistent exports to Brazil despite broader economic uncertainties.
• The housing sector remained fragile in Q2, as high mortgage rates and reduced affordability led to slower construction activity and cautious PVC procurement.
Why did the price of PVC change in July 2025 in the USA?
• The PVC Price Index registered a 0.8% decline. The decrease was driven by subdued demand, oversupply, weaker EDC costs, and rising inventories (up 29% YoY), pushing sellers to accept lower deals.
Asia
• PVC Price Index across Asia remained volatile in Q2 2025, reflecting aggressive pricing competition, especially from Chinese exporters.
• In early May, FOB Indonesia PVC prices dropped by 1.3% due to oversupply and weak demand from India and Vietnam amid regulatory uncertainty and economic headwinds.
• June 2025 brought a 1.3% rebound in PVC prices in Indonesia, supported by higher freight costs, stronger Taiwanese offers, and firm Indian and Vietnamese import demand.
• By July 2025, the regional market turned bearish again; the PVC Price Index in Indonesia fell by 1.2%. Why did the price change in July 2025? Persistent regional demand weakness, seasonal construction slowdowns, and aggressive Chinese price undercutting caused the decline.
Europe
• The PVC Price Index in Europe showed limited movement during Q2 2025, supported by stable supply and seasonal demand slowdowns.
• In May, German PVC prices remained steady, with producers managing constrained supply amid force majeure declarations and muted demand.
• June 2025 saw PVC FOB Germany prices hold firm, with balanced domestic supply and cautious procurement limiting volatility.
Why did the price of PVC change in July 2025 in Europe?
• July 2025 recorded a slight 0.5% decline in German PVC prices.
• Summer holiday shutdowns, deferred downstream procurement, and rising East Asian cargo inflows led to weaker short-term demand.
South America
• PVC Price Index in Brazil followed a softening trend through Q2 2025, influenced by consistent U.S. export flows and tepid domestic demand.
• In May 2025, CFR Brazil PVC prices dropped by 1.8%, pressured by strong foreign supply from the U.S., Mexico, and Colombia.
• June 2025 brought price stability as Brazilian imports continued uninterrupted despite logistics disruptions and geopolitical concerns.
Why did the price of PVC change in July 2025 in South America?
• July 2025 experienced a 0.6% decrease in the PVC Price Index.
• U.S. suppliers issued stable-to-lower offers amid weak global demand, while Brazil's inflation and tariff concerns curbed construction activity and downstream consumption.
Saudi Arabia
• April 2025 saw PVC prices in Saudi Arabia hold steady amid stable local fundamentals. Despite global uncertainty, producers maintained consistent output supported by firm infrastructure demand and stable logistics. Downstream demand from construction and water infrastructure remained active.
• In May 2025, prices remained flat, with no major cost drivers or demand surges. Market stability was reinforced by long-term contracts, adequate inventories, and limited speculative buying.
• June 2025 showed some volatility. During early June, prices rose by 1.2% and 2.4% in the first two weeks, backed by firm demand, steady logistics, and freight-driven competitiveness. However, price growth plateaued mid-June, with prices stabilizing at USD 845/MT, FOB Al Jubail, from June 20 onward.
• Overall, a combination of secure logistics, Vision 2030-driven infrastructure demand, and deliberate, contract-backed procurement kept Saudi PVC pricing stable during Q2 2025 despite global uncertainties.
• PVC prices in Saudi Arabia held steady in July 2025.
Why did the price of PVC change in July 2025 in Saudi Arabia?
• Prices remained unchanged due to balanced supply and resilient domestic demand.
• Chlor-alkali operations in Yanbu and Jubail ran smoothly, backed by secure feedstock from the East-West pipeline.
• Competitive ethylene and EDC pricing and softening freight rates offset marginal energy cost increases.
For the Quarter Ending March 2025
North America
During Q1 2025, Polyvinyl Chloride (PVC) Suspension Flexible Grade K60 prices in the North American market followed a moderate downward trend, driven primarily by persistent weakness in domestic construction demand and limited export opportunities. Prices opened the quarter at USD 662/MT (DEL Texas, USA) in January and gradually declined to USD 637/MT by the end of March.
The early part of the quarter saw temporary supply-side disruptions due to planned maintenance and a brief surge in upstream ethylene costs, which initially stabilized prices. However, these gains were short-lived as demand from the housing and infrastructure sectors remained subdued. Elevated mortgage rates, economic uncertainty, and sluggish turnover in the real estate market curbed construction activity, weakening PVC consumption.
Compounding the issue, international demand faltered amid China’s 34% retaliatory tariffs on US chemical imports, dampening export volumes. By mid-March, rising inventory levels and intensified competition prompted producers to reduce offers to maintain market share. Although some feedstock cost relief was observed, particularly in EDC, it failed to offset the impact of oversupply and weak demand. Overall, bearish fundamentals and cautious buying activity led to a softening of PVC prices across Q1 2025, reflecting a well-supplied but demand-constrained market environment.
Asia
During Q1 2025, Polyvinyl Chloride (PVC) prices across Asia exhibited a moderate downward trend, primarily influenced by oversupply conditions and soft regional demand. In Japan, despite moments of price stability supported by steady construction activity and strategic inventory planning, prices generally declined. Notably, by the end of March, pipe-grade PVC prices dropped by over 3% due to subdued demand from Southeast Asia and reduced shipping costs, which intensified regional competition. Supply remained ample amid scheduled plant shutdowns, with sufficient inventories mitigating any disruption. In China, the quarter began with weak demand and elevated inventories, resulting in a price dip of over 2% in early January. Although a temporary rebound occurred in mid-January amid stronger futures and pre-Lunar New Year procurement, the broader market remained cautious. February and March saw stable yet bearish sentiment, with persistently high supply levels, muted construction activity, and limited export demand keeping price movements constrained. Overall, Q1 was characterized by sluggish demand recovery, particularly in the construction sector, and ample supply levels across both Japan and China. These factors collectively pressured PVC prices downward across the Asian region during the quarter.
Europe
During Q1 2025, Polyvinyl Chloride (PVC) prices in the European market experienced a moderate upward trend, recovering from early-quarter softness amid gradually improving fundamentals. Prices for PVC Suspension Semi Rigid Grade K67 rose from USD 943/MT in January to USD 948/MT by the end of March, supported by slight gains in feedstock costs and intermittent demand improvement. In February, prices saw a notable 2.1% uptick as improved trading activity and seasonal optimism supported market sentiment, even as supply remained ample. March brought mixed signals, early-month gains driven by rising EDC costs and infrastructure-related demand were later offset by weak housing construction and increased imports, resulting in a slight month-end dip of 1.6%. Despite macroeconomic headwinds and fragile construction activity, the restart of key plants in Eastern Europe helped stabilize supply, while steady demand from the packaging sector and gradual improvements in business sentiment prevented a deeper market correction. Looking ahead, with inventory levels tightening and energy costs trending upward, prices are expected to remain firm, especially if downstream demand from housing shows further signs of recovery in the second quarter.
Middle East Asia
Polyvinyl Chloride (PVC) prices in Middle East Asia registered an overall upward trend in Q1 2025, supported by firm demand and elevated production costs. February saw the strongest gains, with prices rising cumulatively by over 6% due to robust downstream demand from the construction sector and a surge in upstream ethylene and crude oil prices. Government-backed infrastructure projects under Vision 2030, combined with resilient investor sentiment, bolstered procurement activity. In March, PVC prices remained largely stable, reflecting balanced supply-demand fundamentals. Steady production and logistics, along with sustained downstream consumption, kept the market firm. Limited price movement was observed as traders adopted a wait-and-watch approach amid fluctuating freight rates. By late March, signs of a rebound in regional export demand and a moderate rise in crude oil prices pushed PVC prices up again by 1.1%. Although the first week of April showed a marginal dip due to falling feedstock costs and cautious procurement, this occurred after the close of Q1 and did not weigh on the quarter’s net trajectory. Overall, the Q1 2025 trend for PVC in Saudi Arabia was upward, driven by cost-led supply pressures and resilient demand in key sectors.
South America
PVC prices in South America exhibited a moderate decline over Q1 2025, primarily driven by subdued demand from the construction sector and steady import flows, particularly from the USA. The quarter began with stable pricing in January, supported by balanced supply-demand fundamentals and consistent domestic production. However, by early March, prices began to soften, registering a 1.2% drop amid ample inventories, weak downstream demand, and easing freight rates. This downward trend persisted through the remainder of March and into April, with a 0.6% decline in the third week of March and further reductions of 0.6% and 1.2% in the first two weeks of April. While U.S. supply remained robust and import volumes steady, local demand recovery lagged, weighed down by high interest rates and macroeconomic challenges. Although brief signs of improvement emerged in construction confidence by late March, they were insufficient to offset broader economic headwinds. Competitive international pricing and minimal fluctuations in feedstock costs further pressured the market. Overall, PVC Suspension Flexible Grade K67 declined from USD 863/MT in January to USD 838/MT by mid-April, reflecting a steady yet moderate downtrend across Q1 2025.
