Europe’s PVC market maintains stable trend in July

In Europe, PVC prices opened July on a stable note due to the flat ethylene settlement, marking the second straight month of stability. Earlier expectations for a firmer monomer outcome faded given dipping crude oil price prices stemming from de-escalating tensions in the Middle East. As a result, earlier projections for an upturn in the PVC market also lost momentum. Mostly unchanged fundamentals also helped prevent hikes.

PVC prices see rollovers on steady C2

Prior to the monomer settlement, players were not excluding to see some increases in the PVC market in July considering producers’ need to avoid margin losses. However, the steady ethylene outcome pushed suppliers to announce mainly rollovers over last month in order to preserve their margins. Deals started to be concluded at stable levels, and producers do not intend to step back from their initial offers despite unsupportive market conditions.

Poor fundamentals dominate the market

The holiday lull pushed many converters to remain cautious with their purchases, particularly in West European countries, while a lack of relevant supply limitations across the region also contributed to dampen buying appetite. In Southern Europe, in the meantime, buyers have refrained from building inventories so far despite the pending summer break, citing not vivid demand in their end-product businesses.

When it comes to supply, availability was quite comfortable within the bloc despite low stocks on a few producers’ side. Hungarian producer Borsodchem, meanwhile, will reportedly conduct a planned maintenance starting from the second half of July.

More import arrivals awaited; Fresh offers are not attractive

According to players, larger overseas volumes from Asia are likely to arrive in Europe during July, stemming from earlier competitive deals. Still, latest offers attracted limited buying appetite, as prices were standing at around €750-800/ton CIF for South Korean K67 with delivery in September, while locally-held K67 from the same origin was traded above the €900/ton FD in Italy.

Mostly stable offers were observed for Mexican resin in July. According to ChemOrbis Stats Wizard, Mexico has been the top import supplier of Europe so far in 2025.

Suppliers aim to avoid drops during July

Producers have reiterated their aim to protect razor-thin or negative margins this month, holding onto their stable pricing policies given the flat ethylene settlement. Some converters have already accepted to pay rollovers over June, while others target to achieve small price corrections during the month, especially in the contract market. Although a softer trend seems unlikely due to suppliers’ ongoing profitability concerns, their ability to keep prices steady will also hinge on demand, which is not expected to improve in the near term.