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Morning Briefing - 11 August 2025The Chinese PVC market lost its upward momentum in the week ending 8 August 2025, as tepid demand and growing inventory pressure dampened sentiment. |
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CommoPlast
Morning Briefing
11 August 2025
Brent: $66.59 (á $0.16)
WTI: $63.88 (-)
Naphtha CFR Japan: â $1
Ethylene CFR NEA: Stable
Ethylene CFR SEA: Stable
Propylene FOB Korea: Stable
Propylene CFR China: Stable
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Chinese PVC Market Declines, Ending Six-Week Export Rally
The Chinese PVC market lost its upward momentum in the week ending 8 August 2025, as tepid demand and growing inventory pressure dampened sentiment. The downturn abruptly halted a six-week rally in the export market, yet buyer response to the softer prices has so far been restrained.
Export offers fell by $10–20/ton, while domestic spot prices slipped by CNY 50/ton. Market participants noted that local PVC inventories have been climbing for six consecutive weeks, reflecting the prolonged demand weakness.
In June, Chinese PVC exports slumped by nearly 28% month-on-month, with shipments to India collapsing by over 60%. Concerns are mounting that export performance could remain under strain if India proceeds with its proposed anti-dumping duties of $82–125/ton on Chinese-origin cargoes.
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Signs of Supply Tightness Emerged in the Vietnamese HDPE Injection Market
Tightening supply signals surfaced in Vietnam’s HDPE injection segment over the past week, with importers reporting reduced cargo availability from multiple origins. Some parcels are now commanding a premium over HDPE blow moulding grade, reflecting shifting market dynamics.
Industry participants linked the scarcity to prolonged weak production margins, which have discouraged overseas producers from prioritising HDPE injection output.
In the week ending 8 August 2025, several deals for South Korean HDPE injection were concluded above the $900/ton mark, fuelling market speculation that the firming trend could extend into the near term.
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