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IndiaQ1 2025:
In Q1 2025, VCM prices across major exporting countries saw a sharp decline, continuing the downward trend from late 2024. Prices in Qatar dropped by 15.04% to USD 521/MT, while Indonesia experienced a similar decrease of 15.17%, reaching USD 513/MT. Germany saw a more modest reduction of 5.83%, with prices falling to USD 512/MT. In the USA, VCM prices declined by 3.46%, settling at USD 536.92/MT. This bearish trend was largely driven by a significant slowdown in global demand, particularly from the construction and automotive sectors, amid economic slowdowns and high borrowing costs. Additionally, high inventory levels and intense price competition among exporters put further downward pressure on prices. Importing countries like India remained cautious in their purchases, expecting further declines and preferring short-term contracts.
Q4 2024:
In Q4 2024, VCM prices continued their downward trend across key production regions. Germany experienced the largest decline, with prices dropping 12.03% to USD 544/MT, while Qatar and Indonesia saw prices fall to USD 613/MT and USD 605/MT, respectively. VCM prices in the USA edged up slightly by 1.05%, reaching USD 556.15/MT, supported by increased domestic demand, particularly from the packaging and construction sectors. The global market remained oversupplied, as the influx of new production capacities from earlier in the year continued to saturate the market. Demand in Europe and Asia was particularly weak, driven by slowing industrial activity amid geopolitical tensions, sluggish infrastructure growth, and unstable macroeconomic conditions. Furthermore, disruptions in global shipping routes, including those in the Red Sea, along with rising costs, hindered trade flows and limited new buying interest.
Q3 2024:
In Q3 2024, VCM prices experienced a brief recovery across Qatar and Indonesia, rising by 4.18% and 4.55% respectively, driven by a modest rebound in demand. Prices in Germany continued a mild decline of 2.02%, signaling regional disparities in recovery pace. The USA saw a strong rebound in VCM pricing, climbing 13.48% to USD 550.38/MT, supported by improved downstream demand and tighter supply due to plant maintenance activities. APAC markets benefitted from renewed interest in construction and infrastructure projects, boosted by regional government stimulus packages. Temporary shutdowns for maintenance at certain facilities also reduced available supply, which contributed to price stabilization. However, global buyers remained cautious, as macroeconomic conditions were still fragile and long-term demand projections remained conservative, especially in Europe.
Q2 2024:
VCM prices showed mixed trends in Q2 2024. Indonesia and Qatar posted slight gains of 3.65% and 0.81% respectively, reaching USD 633/MT and USD 625/MT, while Germany continued its decline with prices falling by 4.53% to USD 631/MT. In contrast, the USA recorded a moderate increase of 3.70%, with prices reaching USD 485/MT. The market saw a temporary lift in Asia due to a modest uptick in orders from downstream sectors, but the gains were capped by underlying oversupply. Geopolitical issues such as Houthi rebel disruptions in the Red Sea added further complexity to trade, leading to logistical challenges and delayed shipments. Still, high inventory levels across regions and lackluster construction demand kept prices from rallying significantly.
Q1 2024:
In Q3 2024, VCM prices experienced a brief recovery across Qatar and Indonesia, rising by 4.18% and 4.55% respectively, driven by a modest rebound in demand. Prices in Germany continued a mild decline of 2.02%, signaling regional disparities in recovery pace. The USA saw a strong rebound in VCM pricing, climbing 13.48% to USD 550.38/MT, supported by improved downstream demand and tighter supply due to plant maintenance activities. APAC markets benefitted from renewed interest in construction and infrastructure projects, boosted by regional government stimulus packages. Temporary shutdowns for maintenance at certain facilities also reduced available supply, which contributed to price stabilization. However, global buyers remained cautious, as macroeconomic conditions were still fragile and long-term demand projections remained conservative, especially in Europe.
Q1 2025
In Q1 2025, VCM prices plunged sharply by 13.76%, falling to USD 575/MT, the lowest point in the observed timeframe. This steep decline was primarily due to a global downturn in demand from PVC producers amid sluggish construction activity and limited infrastructure projects in both domestic and international markets. Additionally, Indian importers benefited from softer freight rates and a relatively stable INR, reducing overall import costs from Qatar. With inventory levels still elevated and buying sentiment weak, suppliers were forced to cut prices to maintain export volumes, reflecting subdued market fundamentals heading into the new fiscal year.
Q4 2024
VCM prices in Q4 2024 dropped by 6.06% to USD 667/MT as supply outpaced demand during the post-festival slowdown in India. Domestic PVC producers scaled back raw material procurement due to weak downstream demand and maintenance shutdowns. On the supply side, Qatari exporters maintained steady shipments, but lack of matching offtake in India led to downward pressure on prices. Additionally, lower ethylene feedstock prices and improved shipping schedules contributed to a reduction in overall import costs. The bearish market conditions kept Indian buyers cautious and reluctant to restock aggressively, sustaining a deflationary trend through the quarter.
Q3 2024
In Q3 2024, VCM prices increased by 6.75%, reaching USD 710/MT, driven by a seasonal uptick in demand from India’s construction and infrastructure sectors. As government-led infrastructure projects gained momentum after the monsoon season, PVC production increased, boosting VCM demand. Additionally, unplanned outages at several regional VCM production facilities and limited ethylene availability in the Middle East contributed to the positive market sentiment. Fluctuations in freight rates, driven by regional tensions around the Red Sea and Suez Canal, also added some pressure to import costs, further raising landed prices at Indian ports.
Q2 2024
VCM prices saw a moderate increase of 1.38% in Q2 2024, rising to USD 665/MT as Indian demand slowly began to recover from the prior quarter’s slump. Seasonal restocking by PVC manufacturers, coupled with rising temperatures and pre-monsoon construction activity, supported a mild uptrend in procurement. Despite overall global supply remaining steady, buyers showed improved confidence amid relatively stable freight costs and easing feedstock price volatility. However, the scale of the price recovery was capped due to ample inventories in the domestic market and cautious buying behavior influenced by macroeconomic uncertainty.
Q1 2024
In Q1 2024, VCM prices declined by 5.56%, settling at USD 656/MT, reflecting weak sentiment post-year-end holidays. Indian PVC manufacturers operated at reduced capacities amid tepid construction activity and lagging infrastructure investments. Lower input costs, including ethylene and chlorine, along with softened freight rates from Qatar, pushed down CIF values. Additionally, the market remained under pressure from overstocking during Q4 2023 and muted downstream demand from key sectors such as real estate and automotive. As a result, Indian importers remained conservative in their procurement strategy, contributing to the price drop during the quarter.
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These events underscore the VCM market’s vulnerability to global disruptions and highlight the need for continuous monitoring of supply-demand dynamics.
This research methodology ensures that PriceWatch delivers the most accurate, timely, and actionable VCM pricing assessments, helping our clients stay ahead of market trends and make informed business decisions.
Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Vinyl Chloride Monomer (VCM, C₂H₃Cl) is a key chemical used in the production of polyvinyl chloride (PVC), widely used in construction, automotive, and packaging industries. It is primarily produced from Ethylene, sourced from petroleum or natural gas, through the chlorination process. VCM is valued for its ability to create durable, versatile materials with high chemical resistance.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Properties | Specifications |
| Appearance | Clear and free of suspended matters |
| VCM (wt%) | Industrial Grade (≥99.5%) |
| 1,3-Butadiene (wt ppm) | Max. 10 |
| Color | Colorless |
| Water content (wt ppm) | Max. 100 |
| Acidity as HCl (wt ppm) | Max. 1 |
| Hydroquinone | Min./Max. 2/5 |
Applications
Vinyl chloride monomer (VCM) is a colorless gas that is primarily used to produce polyvinyl chloride (PVC), one of the most widely used plastics globally. PVC is known for its versatility and durability, making it ideal for a variety of applications, including construction materials (like pipes and window frames), automotive components, electrical insulation, and medical devices. Additionally, VCM is used in the production of coatings and adhesives. Its adaptability in different formulations allows for a wide range of physical properties, catering to specific needs across industries, thus playing a critical role in everyday products and infrastructure.
The pricing of vinyl chloride monomer is influenced by several key drivers, including global demand for PVC, feedstock costs (such as ethylene and chlorine), production capacity, and geopolitical factors that affect supply chains. Additionally, fluctuations in oil prices can indirectly impact VCM prices, as they are closely linked to the costs of raw materials used in its production.
Regulatory changes, such as environmental regulations and safety standards, can significantly impact the pricing of vinyl chloride monomer. Compliance with stricter regulations may lead to increased production costs for manufacturers, which can subsequently result in higher VCM prices. Procurement heads should monitor legislative developments to anticipate potential cost increases and adjust their sourcing strategies accordingly.
Global economic stability plays a crucial role in determining the demand for vinyl chloride monomer. Economic growth typically leads to increased construction and manufacturing activities, driving up the demand for PVC products and, consequently, VCM. Conversely, economic downturns can result in reduced demand, leading to price declines. Procurement professionals should consider macroeconomic indicators when planning their purchasing strategies.
To mitigate risks associated with vinyl chloride monomer price volatility, procurement heads can adopt several strategies, such as establishing long-term contracts with suppliers, diversifying their supplier base, and implementing hedging strategies to lock in prices. Additionally, staying informed about market trends and maintaining open communication with suppliers can help in negotiating better terms and navigating price fluctuations effectively.
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