PVC sellers in Taiwan, South Korea turn to Brazil as competition into India grows

PVC suppliers from Taiwan and South Korea are seeking opportunities to shift their volumes to Europe and Brazil, as competition with China for selling into the Indian market grows amid a backdrop of continued low demand conditions.

The global market was still reacting to India opening its doors to Chinese PVC after the Bureau of Indian Standards withdrew its quality control order that mandated certifications for PVC homopolymers on Nov. 12.

The market is also watching news around antidumping duties in India, with the deadline to announce a decision on duties against US- and China-origin PVC having expired on Nov. 14, with no updates seen at the time of publication on Nov. 19.

Following the BIS' decision, China-based sellers started making aggressive offers into India, which increased competition for sellers from Taiwan and South Korea.

"The game turned overnight," a Brazil-based trader said on Nov. 19, noting prices from Taiwan and South Korea were decreasing, as sellers from those countries had expected they could allocate material into India.

Offers from Taiwan into the Brazilian market were reported at $690/metric ton CFR Brazil, down from $715/mt seen the previous week. The same trader said that he had made two deals, totaling 300 mt, at that lower price, with one of the deals for product from South Korea and the other from Taiwan.

A second trader in Brazil said that suppliers from South Korea were actively seeking buyers.

"Before, they weren't tracking prices, but yesterday they contacted me to see if there was any bid, which I didn't send because I don't need material right now," the second trader said.

In Europe, traders similarly reported increased availability of South Korean and Taiwanese PVC for export to the region. At the same time, Chinese export availability into Europe tightened, with suppliers diverting volumes toward the Indian market. The shift marks a reversal of recent patterns, as previously South Korea-based suppliers had limited volumes for Europe, as they were focusing on India.

"There is a lot of pressure on South Korea and Taiwan; producers are asking us for bids, even if they are aggressive," a Europe-based trader said.

Meanwhile, market uncertainty in Europe persisted following news on Nov. 11 that Ineos had filed, or was in the process of filing, an antidumping complaint on PVC with the European Commission.

The second half of 2025 has also seen a sharp rise in Asian shipments into Europe, according to Eurostat data. South Korea has led the charge so far, with its exports to Europe peaking at 17,588 mt in July. China and Taiwan's exports have also increased in the second half of the year, with flows to the EU totaling 6,987 mt and 7,163 mt in August, respectively, the Eurostat data showed.

Meanwhile, offers from Europe to Brazil remained sparse, the first trader said.

Platts, part of S&P Global Energy, assessed spot PVC at $760/mt CFR Brazil on Nov. 19, down $10/mt on the week. In the same day, the FD Northwest Europe PVC spot price was assessed at Eur795/mt, down $15/mt on the week, while spot PVC Suspension FOB NWE was assessed at $665/mt, down $5/mt on the week.