# PVC: Trading

Dalian futures and the CFR India benchmark

Source page: https://www.materialinsights.org/chemicals/pvc/trading/

What this tab covers How it is bought and sold: buyers and sellers, price benchmarks and who publishes them, exchanges, contract types, traders, how Indian buyers price it, recent price points, and good sources to follow.

#### Who buys, and where

- China (carbide and ethylene route)
- US Gulf
- Taiwan (Formosa)
- Japan and South Korea
- Qatar and later UAE

#### Who sells, and from where

- India (largest importer)
- Turkey
- Vietnam and Southeast Asia
- Brazil and Latin America
- Africa
- Egypt

#### Price benchmarks

| Benchmark | Publisher | Basis |
|---|---|---|
| **S-PVC CFR India** | S&P Global Platts | spot, weekly |
| **PVC FOB China and FAS Houston** | S&P Global Platts, ICIS | spot, weekly |
| **NWE PVC contract** | ICIS, Platts | monthly contract |

#### Exchanges

| Venue | Contract | Notes |
|---|---|---|
| **Dalian Commodity Exchange** | PVC futures and options (5 t) | liquid; reflects Chinese carbide-route economics |

#### Contract types

- Indian producer list prices (Reliance leads) revised weekly or fortnightly
- Spot import cargoes in 25 kg bags and containers
- Term supply to pipe majors with monthly pricing
- Tolling of imported VCM (some Indian producers)

#### Traders and distributors

- Vinmar
- Mitsui
- Mitsubishi Corporation
- Marubeni
- Itochu
- Sinochem

#### How Indian buyers price it

- Reliance publishes PVC list prices that follow CFR India plus duties; Finolex, Chemplast, DCW and DCM Shriram follow (VCM tile).
- Trade remedies: ADD on suspension PVC lapsed in Feb 2022; DGTR recommended provisional ADD of $25-339/t on S-PVC from seven countries (Nov 2024). DGTR's final findings of 14 Aug 2025 recommended anti-dumping duty of $22-284/t on S-PVC, but the Ministry of Finance did not notify it within the three-month window, so no duty was imposed; instead DGFT Notification 25/2026-27 (24 Jul 2026) made S-PVC imports priced at or below $0.766/kg CIF 'restricted' for six months (DGFT via TaxGuru; Argus, Jul 2026).
- DGTR began a countervailing-duty probe on Chinese S-PVC on 27 Feb 2026, with retrospective duties requested (S&P Global); ADD on paste PVC since March 2025 (VCM tile).
- The BIS quality-control order on PVC homopolymers, due to apply from Dec 2025, was withdrawn on 12 Nov 2025 with 13 other polymer and polyester QCOs (BIS notification via ELP, Nov 2025).

#### Recent price points

| Date | Price | Basis | Source |
|---|---|---|---|
| May 2025 | **$695/t** | S-PVC CFR India | S&P Global, Jul 2025 |
| 23 Jul 2025 | **$715/t** | S-PVC CFR India | S&P Global, Jul 2025 |
| 24 Jul 2025 | **$630/t (five-year low, down 22% y/y)** | FAS Houston | S&P Global, Jul 2025 |
| 24 Jul 2025 | **$625/t** | FOB China | S&P Global, Jul 2025 |
| 25 Feb 2026 | **$720/t** | S-PVC CFR India | Platts via S&P Global, 27 Feb 2026 |

#### Good sources to follow
[ChemOrbis plastics news](https://www.chemorbis.com/en/plastics-news)freemium research site · ChemOrbis

Weekly Asian, Indian and Turkish polymer prices and sentiment
[Polymerupdate](https://www.polymerupdate.com)freemium research site · Polymerupdate (Mumbai)

Daily CFR South Asia polymer assessments and Reliance/IOCL list price changes
[Argus market opinion and analysis blog](https://www.argusmedia.com/en/news-and-insights/market-opinion-and-analysis-blog/polyolefins-market-outlook-pe-pp-trends)free blog · Argus Media

Polyolefin capacity waves, operating rates and closures
[Polimerica](https://polymeric.polimerica.it)free newsletter · Polimerica (Italy)

European plastics industry, Plastics Europe data and recycling projects
[S&P Global Commodity Insights chemicals news](https://www.spglobal.com/energy/en/news-research/latest-news/chemicals)freemium research site · S&P Global

Platts PVC prices and trade-remedy news including India

## Other sections

- [Summary](https://www.materialinsights.org/chemicals/pvc/index.md)
- [Overview](https://www.materialinsights.org/chemicals/pvc/overview/index.md)
- [Correlation](https://www.materialinsights.org/chemicals/pvc/correlation/index.md)
- [Production route](https://www.materialinsights.org/chemicals/pvc/routes/index.md)
- [Production](https://www.materialinsights.org/chemicals/pvc/production/index.md)
- [Feedstocks](https://www.materialinsights.org/chemicals/pvc/feedstocks/index.md)
- [Cycles](https://www.materialinsights.org/chemicals/pvc/cycles/index.md)
- [Movement](https://www.materialinsights.org/chemicals/pvc/movement/index.md)
- [Regulation](https://www.materialinsights.org/chemicals/pvc/regulation/index.md)
- [Characteristics](https://www.materialinsights.org/chemicals/pvc/characteristics/index.md)
- [Emissions](https://www.materialinsights.org/chemicals/pvc/emissions/index.md)
- [Relationships](https://www.materialinsights.org/chemicals/pvc/links/index.md)