In 2024, the global PVC export trade friction continued to escalate, at the beginning of the year, the European Union launched anti-dumping on PVC originating in the United States and Egypt, India launched anti-dumping on PVC originating in China, Japan, the United States, South Korea, Southeast Asia and Taiwan, and superimposed India's BIS policy on PVC imports, and the world's main PVC consumers remain highly cautious about imports.
First, the dispute between Europe and the United States has brought harm to the pond.The European Commission announced on June 14, 2024, the preliminary phase of an anti-dumping duty investigation on imports of polyvinyl chloride (PVC) from suspension of US and Egyptian origin, according to a summary of the European Commission's announcement on the proposed tariffs, among producers in the United States, a tariff of 71.1% will be imposed on Formosa Plastics products; A 58% tariff will be imposed on Westlake goods; Oxy Vinyls and Shintech have anti-dumping duties of 63.7 percent, compared with 78.5 percent for all other U.S. producers. Among Egyptian producers, Egyptian Petrochemical will be subject to a tariff of 100.1%, TCI Sanmar will be subject to a tariff of 74.2%, while all other Egyptian producers may be subject to a tariff of 100.1%. It is understood that the United States is the European Union's traditional and largest source of PVC imports, the United States PVC compared to Europe has a cost advantage, the European Union launched anti-dumping to a certain extent to raise the cost of PVC originating in the United States in the European Union market sales, or will be produced in Japan and South Korea, China Taiwan PVC has a certain benefit, Production costs and transportation costs in Japan, South Korea and Taiwan are higher than in the United States. According to customs statistics, China's total exports of PVC to the EU accounted for 0.12% of the total exports, and mainly concentrated in several ethylene law enterprises. Subject to the European Union's certification policy on products of origin, environmental protection policies and other restrictions, China's export benefits are limited. In the opposite direction, due to the restriction of US exports to the EU region, the United States may increase its sales to the Asian region, especially the Indian market, from the 2024 data point of view, the US export to the Indian market has increased significantly, of which the proportion of exports to the Indian market in June exceeded 15% of its total exports, while India only accounted for about 5% before 2023.
Second, India's BIS policy has been postponed, and domestic exports have been able to breathe.As of press time, the weekly export signing volume of PVC sample production enterprises was 47,800 tons, an increase of 533% over the same period last year; the export delivery was concentrated, with a weekly increase of 76.67% at 42,400 tons, and the cumulative pending delivery volume increased by 4.80% at 117,800 tons.
The Indian Ministry of Commerce and Industry (MOFCOM) on March 26 announced the launch of anti-dumping investigations on PVC imports originating in China, Indonesia, Japan, South Korea, Taiwan, Thailand and the United States. According to the relevant information inquiry, the longest period of anti-dumping investigation is 18 months from the date of the announcement of the investigation decision, that is to say, the final result of the investigation will be announced in September 2025 at the latest, from the combing of historical events, from the announcement of the investigation to the final result of the announcement of the time around 18 months, It is estimated that the final ruling of the sunset review of this anti-dumping investigation will be announced in the second half of 2025. India is the world's largest importer of PVC, in February 2022 to eliminate the previously imposed anti-dumping duties, in May 2022, the Indian government also reduced the import duty on PVC from 10% to 7.5%. India's import BIS certification policy, considering the slow progress of the current Indian certification and the substitutability of import demand, has been postponed to December 24, 2024, but it has been widely spread in the market since July that India will temporarily impose tariffs on imported PVC during the BIS extension period, in order to protect the competitive advantage of local enterprises and restrict PVC imports. However, the long-term confidence is insufficient, and the market authenticity still needs our continued attention.
Post time: Sep-12-2024