The Indian government rolled out a short-term import control policy targeting suspension-grade PVC resin, which will remain effective for six months.
Under the new regulation, imports of suspension PVC resin with a CIF price at or below USD 766 per metric ton will be restricted. Shipments priced above this threshold can still be imported freely without extra constraints. A clear exemption clause is included: suspension PVC resin imported for manufacturing finished export goods is excluded from the price cap measure.
One week prior to the price restriction rule, India’s full tariff waiver covering 40 key petrochemical products expired on July 15. PVC imports have since reverted to the baseline 7.5% import tariff rate.
India’s policy stance underwent a dramatic U-turn within just over three months: a three-month zero-tariff window launched on April 2 was temporarily extended by 15 days until June 30, before expiring completely on July 15, shifting from unrestricted import access to strict import curbs.
Formosa Plastics Raises August PVC Export Offers to Qualify for Import Eligibility.
Driven by climbing upstream ethylene costs, Formosa Plastics Group lifted its August PVC export offers across all regions:
- CIF India: USD 860/MT, up USD 45/MT
- CIF Mainland China Ports: USD 810/MT, up USD 50/MT
- CIF Southeast Asia: USD 840/MT, up USD 50/MT
- FOB Taiwan, China: USD 780/MT, unchanged
Formosa’s India-targeted offer of USD 860/MT sits well above the USD 766 price threshold, enabling unrestricted import clearance. This gives the company a major competitive edge over low-cost PVC shipments now blocked by the new import rule.
India has long been China’s top export market for PVC. In 2025, China’s PVC exports to India hit 1.515 million metric tons, accounting for 39.6% of the country’s total PVC exports.
In June 2026, China exported roughly 91,300 tons of PVC to India at an average export price of USD 764.7 per metric ton. Cumulative exports to India in the first half of 2026 reached approximately 906,400 tons, making up around one-third of China’s overall PVC export volume.
Post time: Jul-29-2026