Why did ICIS introduce a new carbide-based PVC CFR India price assessment?

ICIS introduced the new carbide-based PVC CFR India spot price assessment on 24 July to improve pricing transparency and better reflect the dynamics of India’s import market, as carbide-based PVC imports—predominantly supplied by China and accounting for an estimated 60–70% of India’s total PVC imports—have grown to dominate the market, making the previous ethylene-only assessment insufficient to capture prevailing import values and supply-demand fundamentals.

What key market reality prompted the need for a separate carbide-based PVC benchmark for India?

The need became particularly evident during recent Middle East supply disruptions—such as concerns over shipping through the Strait of Hormuz—which tightened sentiment across petrochemical markets, yet PVC prices declined sharply in April due to ample availability of coal-based carbide PVC, highlighting that ethylene-based pricing alone failed to reflect the divergent cost structure and market behavior of carbide-based material, which typically trades at a $30–40/tonne discount but can widen significantly depending on conditions.

ICIS Expands PVC Pricing Coverage with Carbide-Based CFR India Assessment

Jul 27, 2026

ICIS launched a new carbide-based PVC CFR India spot price assessment on July 24 to better reflect import market dynamics. This benchmark addresses the growing dominance of carbide-based PVC imports, accounting for 60-70% of India's total PVC consumption.

icis

2026-07-27

ICIS Expands PVC Pricing Coverage with Carbide-Based CFR India Assessment

ICIS Expands PVC Pricing Coverage with Carbide-Based CFR India Assessment

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