- Global PVC prices strengthened in Q1’26 as the Iran war and Strait of Hormuz closure raised energy, freight, insurance, and petrochemical feedstock costs, especially toward March.
- Feedstock pressure increased through higher ethylene, calcium carbide, power, and logistics costs, which raised production and delivered-cost pressure across major regions.
- Downstream demand remained uneven, with pipes, fittings, and construction materials recovering slowly, while export demand helped support Asian producers.
Asia
PVC prices in Asia moved upward in Q1’26, led by China’s stronger export activity, improving overseas demand, and higher freight risk. The prices were ~4.63 RMB/kg (Spot FD) in January and ~5.60 RMB/kg (Spot FD) in March. Last quarter prices were ~7.55% lower than Q1’26 prices, while prices increased by ~20.90% from January to March. The market was relatively cautious early in the quarter due to slow construction demand and sufficient domestic supply. However, sentiment improved from February as downstream buyers resumed procurement and export orders strengthened. However, logistical disruptions amid the partial closure of the Strait of Hormuz resulted in higher freight and insurance costs, tightening supply and pulling prices higher by the end if the quarter. Meanwhile, India’s DGTR launched a countervailing duty investigation into Chinese PVC suspension resin imports after domestic producers alleged unfair government subsidies harming the local industry. Chinese PVC accounted for nearly 47% of India’s total PVC suspension resin imports in 2025, while traders adopted a cautious wait-and-watch approach amid potential retrospective duties.
Europe
PVC prices in Europe followed a firm upward trend in Q1’26 as energy-intensive production faced higher feedstock and utility costs after the Middle East disruption. Shipping delays and higher insurance costs raised import replacement costs, while local producers lifted offers to protect margins. Demand from construction stayed weak, limiting sharper gains, as euro area construction output fell 0.2% month-on-month in February 2026.
North America
PVC prices in North America remained stable early in Q1’26 and firmed toward the quarter close as higher freight, energy, and export replacement costs supported sentiment. Domestic supply reduced direct exposure to Hormuz-linked disruption, but export demand and construction-related consumption kept the market supported. U.S. construction spending remained the key demand indicator for PVC pipes, fittings, and building materials.