SEA import PVC market starts 2026 cautiously firmer after hitting 17-year lows

The Southeast Asian import PVC market closed 2025 on a firmer note, extending a two-week price uptrend after rebounding from the lowest level since 2008. Nevertheless, the modest recovery remained largely fragile, as buying interest stayed subdued amid the year-end lull. While pockets of demand improvement emerged in several markets, these were insufficient to trigger a broad-based recovery, keeping the overall upturn constrained.

Prices extend 2-week recovery, climbing from over 17-year lows

The SEA import PVC market showed some signs of firming after benchmark offers from a major Taiwanese producer were rolled over for January shipments, setting a stabilizing tone. Following Taiwan’s January announcement, an Indonesian producer unveiled January K67 offers with rollovers to $15/ton increases from December, placing prices at $630-645/ton CIF SEA, cash.

These adjustments pushed up the high end of the region’s import PVC range. Additional upward push emerged this past week as Chinese suppliers raised ethylene-based PVC offers by $10-25/ton, lifting the low end of the regional range by around $10/ton.



As a result, the weekly average import PVC price in SEA has increased by roughly 2% over the past two weeks, edging up from its lowest level in more than 17 years, according to the ChemOrbis Price Index. Although the gains remained limited in magnitude, the rebound helped revive market sentiment to some extent after a prolonged downcycle.

However, transactional levels continued to trail offers. Deals for Taiwanese and Indonesian cargoes were concluded in Vietnam at around $590/ton CIF, cash, indicating ample room for negotiation and underscoring that buyers still retained bargaining power despite firmer offer levels.

Year-end lull keeps trade thin despite pockets of demand improvement

Market activity across Southeast Asia remained quiet as most participants wound down operations toward the year-end holidays. An Indonesian converter noted that trading activity was thin, with buyers largely staying on the sidelines. Similarly, a Filipino converter reported flat domestic demand amid underperforming downstream sectors.

Vietnam stood out as a relatively bright spot, albeit modestly. A local source commented, “Year-end demand shows slight improvement. With expectations for prices to remain stable or edge up next month, we’re considering additional purchases to cover near-term requirements.”

Overall, while the two-week price recovery and marginal demand improvements offered some support, the Southeast Asian import PVC market remains constrained by slow buying and weak downstream performance. Near-term price movements are likely to stay range-bound, with any further upside dependent on a clearer post-holiday demand rebound rather than sellers’ hike attempts alone.