Indian quality controls for PVC set for December 2025

Spanish Market: Petrochemicals
23/06/25

The implementation of Bureau of Indian Standards (BIS) quality controls for polyvinyl chloride (PVC) imports into India is now set for to 24 December 2025, extended from 24 June 2025.

The extension was announced late on 20 June in the Gazette of India, signalling a third extension in the implementation of BIS quality controls on PVC imports. An initial implementation date of 26 August 2024 was set by India's Department of Chemicals and Petrochemicals (DCP), followed by an extension to 24 December 2024 and a second extension to 24 June 2025.

Some progress is noticeable, but is it enough?

There are 30 PVC homopolymer production units outside of India that are currently listed as BIS certified as of 23 June. This includes key production units in Japan, South Korea, Taiwan, Thailand, Indonesia, Vietnam and Malaysia, which accounted for around 44pc of total imports into India in 2024, according to latest data from Global Trade Tracker (GTT). Some units in the US, Germany, France, Egypt, Colombia and Mexico are also included in the list, but other US and European production units are either still waiting for BIS audits to be conducted at their plants or are waiting to hear back from BIS agents after submitting their applications for audit. This is a significant improvement since the previous implementation date of 24 December 2024, when a total of 14 PVC homopolymer production units were BIS certified, predominantly in Japan, Taiwan and South Korea.

Chinese PVC producers, which accounted for around 40pc of total imports into India in 2024, have also yet to receive BIS certification to supply PVC into India. India needs to import a significant share of its PVC supply before the start of new domestic capacities from 2026 onwards and an extension to the implementation of BIS quality controls is likely because some key exporters are still waiting to receive BIS certification, market participants said.

Suspension PVC (s-PVC) import prices into India were assessed at $680-720/t cfr India on 20 June 2025, while paste PVC (e-PVC) import prices were assessed at $940-1,020/t cfr India.

By Michael Vitiello

India's PVC imports '000t

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

04/07/25

US to lay out tariff demands in coming days: Trump

London, 4 July (Argus) — The US will lay out its tariff demands on foreign trade partners in the coming days, President Donald Trump said today. From tomorrow, 5 July, Trump will send letters to 10-12 countries a day, with the aim that all countries will be "fully covered" by 9 July, Trump said. That rate will not cover the amount of tariff deals still to be done by the US, which to date has struck three deals — of 10pc with the UK and China and of 20pc with Vietnam. "[The tariffs will] range in value from maybe 60pc or 70pc tariffs to 10pc and 20pc tariffs," Trump said. Countries will start paying them on 1 August, he said. Since 5 April Washington has been charging a 10pc extra tariff on imports — energy commodities and critical minerals are exceptions — from nearly every foreign trade partner, and those rates could go higher after 9 July. Trump has justified those tariffs by citing an economic emergency caused by allegedly unfair trade practices in foreign countries, and his administration is engaged in talks with foreign governments with the nominal goal of lowering their trade barriers. By Haik Gugarats and Ben Winkley Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Japanese firms advance LCO2/methanol carrier project

03/07/25

Japanese firms advance LCO2/methanol carrier project

Tokyo, 3 July (Argus) — Japanese shipping firm Mitsui OSK Lines (Mol) and shipbuilder Mitsubishi Shipbuilding have made progress in developing an ocean-going liquified CO2 (LCO2) and methanol carrier, which would play a key role in establishing the country's carbon capture, utilisation and storage (CCUS) value chains. Mol and Mitsubishi have obtained approval in-principle (AiP) from Japanese classification society Class NK for their design concept of a LCO2/methanol carrier. The vessel would ship CO2 out of Japan and deliver CO2-based synthetic methanol (e-methanol) on return voyages to the resource-poor country, the companies announced on 30 June. The AiP certifies that the basic design of the vessel meets international regulation standards, such as technical requirements, as well as relevant safety restrictions covering the transportation of dangerous chemicals and liquefied gases in bulk. This is the world's first issuance of an AiP for a LCO2/methanol carrier, Class NK said. The approval is a major step forward for the companies, which hope to develop the vessel for commercialisation. The target date for its commissioning is still unclear. Mol expects the carrier to help meet Japan's growing demand for CO2 exports and e-methane imports with higher transport efficiency, unlike the use of a dedicated vessel for CO2 or methanol, which results in empty-cargo operation on half of the trips. E-methanol can be produced using CO2 and renewable hydrogen, which will contribute to decarbonising a variety of industries including the maritime shipping sector. Mol has previously invested in US synthetic fuel (e-fuel) producer HIF Global, while working with Japanese refiner Idemitsu and HIF subsidiaries HIF USA and HIF Asia Pacific to develop supply chains for synthetic fuel and e-methanol as well as CO2. HIF plans to produce around 4mn t/yr of e-methanol equivalent by 2030 at its production sites in Tasmania in Australia, Matagorda in the US, Magallanes in Chile and Paysandu in Uruguay by using green hydrogen and CO2, Mol has said. CCUS value chains would help fossil fuel-reliant Japan reduce its greenhouse gas (GHG) emissions by 60pc by the April 2035 to March 2036 fiscal year and by 73pc by 2040-41, against 2013-14 levels, before achieving the net-zero emissions by 2050. The Mol group, for its part, aims to reduce emissions intensity in transportation by 45pc against 2019 levels by 2035, as it works towards overall net-zero emissions by 2050. Japan's GHG emissions totalled 1.017bn t of CO2 in 2023-24 , down by 4.2pc from a year earlier to the lowest in 34 years, according to the country's environment ministry. This also reflected a 27pc decline against a 2013-14 baseline. By Japan Newsdesk Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Alternative-fuel ship orders fall in 1H 25: DNV

01/07/25

Alternative-fuel ship orders fall in 1H 25: DNV

Sao Paulo, 1 July (Argus) — Orders for new alternative-fuelled vessels fell in the first half of 2025 from a year earlier, according to Norway-based classification agency DNV. It said 151 new alternative-fueled vessels were ordered, down from 179 in the same period in 2024. These orders represented 19.8mn gross tonnes (GT), up by 78pc from the same period in 2024. LNG-fueled vessels accounted for 87 of the new orders in the first half, followed by methanol-fueled ships, with 40. DNV said 17 were LPG-fueled vessels, followed by hydrogen with four orders and ammonia with three. Orders for alternative-fueled vessels totaled 19 in June, up from 16 in May. The orders included 11 LNG-fueled vessels, four methanol-fueled ships, two hydrogen-fueled vessels, and two LPG carriers. By Natália Coelho New orders, 1H 2025 Fuel Number of vessels LNG-fueled 87 Methanol-fueled 40 LPG-fueled 17 Hydrogen-fueled 4 Ammonia-fueled 3 DNV Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Mexico’s trade balance swings to surplus in May

26/06/25

Mexico’s trade balance swings to surplus in May

Mexico City, 26 June (Argus) — Mexico's trade balance returned to surplus territory in May, as higher crude export volumes helped to offset drags on manufacturing from US tariffs. Mexico recorded a $1.03bn trade surplus in May, statistics agency Inegi reported Thursday, swinging from a $88mn deficit the previous month. Total exports in May were valued at $55.5bn, while imports reached $54.4bn. The surplus was wider than Mexican bank Banorte's forecast of $279mn. The balance reflects the trade deficit in oil-related products narrowing to $2.11bn in May from $2.87bn in April, as well as a rebounding surplus in non-oil trade to $3.14bn from $2.78bn in April. Mexico ran a $2.04bn trade surplus for the January-May period, including a $10.96bn surplus in non-oil trade and a $8.92bn deficit in oil-related trade. This reflects the longer-term trend of growing non-oil exports set against widening deficits of oil-related goods. Manufacturing exports — especially autos — have been the most affected by US tariffs enacted in March and April. Despite US exemptions tied to trade treaties, Mexico still faces an average effective US tariff rate of 11.9pc — the eighth highest globally and the highest in the western hemisphere, according to Fitch Ratings. The auto industry is also participating in negotiations to soften steel and aluminum tariffs to prevent further supply chain disruptions. Manufacturing exports fell by 0.6pc in May after a 0.7pc drop in April. Auto exports declined by 1.3pc in May, following a 4.8pc fall in April. Inegi reported a 10.3pc annual drop in the value of auto exports to the US in May, after an 8pc decline in April. Exports had surged 6.5pc in March as companies rushed shipments ahead of tariff implementation. Agricultural exports contracted by 2.6pc in May from the previous month after rising 2pc in April, while non-oil mining exports contracted 2.9pc after surging 26pc in April. Oil-related exports totaled $2.06bn in May — $1.33bn in crude and $722mn in refined products — compared with $1.83bn in crude alone in April. This comes despite a stronger peso and lower oil prices. Mexico's crude export mix averaged $57.88/bl in May, down $2.94/bl from April and $16.51/bl below the year-earlier level. Crude export volumes rose to 743,000 b/d from 693,000 b/d in April but remained below the 930,000 b/d exported in May 2024. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Presiq may boost Brazil's petchems sector

26/06/25

Presiq may boost Brazil's petchems sector

Sao Paulo, 26 June (Argus) — Brazil's proposed special sustainability program for the chemical industry (Presiq), under review in the lower house, marks a strategic shift in the country's industrial policy for the chemical and petrochemical sectors. With the expiration of the special regime for the chemical industry (Reiq) set for 2027, Presiq emerges as a more modern alternative aligned with sustainability and innovation goals. Reiq is a fiscal incentive mechanism that reduces VAT-like PIS/Pasep and Cofins federal taxes on feedstocks used in chemical and petrochemical production, immediately lowering operational costs for qualifying companies. In contrast, Presiq is a broader industrial policy framework still under discussion, intended to succeed Reiq with a more strategic focus. Unlike Reiq, which focused primarily on tax relief, Presiq introduces a model based on environmental and technological commitments. The concept is straightforward: companies in the sector can access benefits if they allocate part of their resources to sustainable investment such as plant modernization, energy efficiency, emissions reduction and waste management. In addition to maintaining Reiq's tax reductions, Presiq aims to unlock further benefits such as additional tax credits for capacity expansions, access to public financing for innovation and sustainability projects and regulatory support for initiatives aligned with Brazil's reindustrialization and green chemistry priorities. This approach aims not only to revitalize the industry but also to reposition it within a global context that increasingly demands environmental responsibility. Brazil's chemical industry currently operates at around 60pc of its installed capacity, the lowest level since the 1990s. A lack of investment, outdated technology and competition from imports have eroded the sector's competitiveness. Analysts consider Presiq to be a critical tool to reverse this trend. By encouraging modernization and innovation, the program could unlock a new growth cycle, with gains in productivity, sustainability and value creation. Braskem, the country's largest petrochemical company, has expressed support for the program and announced investments in its Rio de Janeiro facility. The company plans to replace naphtha — its traditional and costly feedstock — with ethane derived from Brazil's pre-salt gas reserves, which is both cheaper and cleaner. This strategic shift, expected to be supported by Presiq funds, represents a move toward cleaner and more competitive production. Braskem's new leadership under chief executive Roberto Ramos signals a broader restructuring effort. The company aims to recover market value and become more attractive for a potential sale, while maintaining controlling company Novonor, formerly known as Odebrecht, as a shareholder. Diversifying feedstock sources, including importing gas from Argentina's Vaca Muerta shale formation, is part of a strategy to reduce costs and improve efficiency. Presiq also complements recent government efforts to protect the domestic market. Import tariffs on certain chemical products have been raised to 20pc from 12.6pc and anti-dumping duties on US-origin PVC have jumped to 43.7pc from 8.2pc. While these measures aim to curb foreign competition and support local producers, Brazil's domestic output still falls short of meeting demand. As a result, imports are likely to continue, albeit from alternative sources such as Egypt, Argentina and Colombia. Despite a challenging global environment, marked by overcapacity and lower prices, Brazil's polymers market shows signs of resilience. Domestic demand continues to grow, albeit modestly, suggesting underlying strength in the sector and the broader economy. Without macroeconomic constraints such as high interest rates — currently at 15pc in Brazil — consumption could be even stronger. In this context, Presiq stands out as a key catalyst. If successfully implemented, the program could stimulate investment in new production capacity, making it more modern, cleaner and better managed. While no vote date for the Presiq bill has been scheduled, it could advance without a full floor vote unless formally challenged, positioning it as a key step toward a more strategic and sustainability-driven industrial policy. By Fred Fernandes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more

Indian quality controls for PVC set for December 2025

Some progress is noticeable, but is it enough?

Related news posts

US to lay out tariff demands in coming days: Trump

US to lay out tariff demands in coming days: Trump

Japanese firms advance LCO2/methanol carrier project

Japanese firms advance LCO2/methanol carrier project

Alternative-fuel ship orders fall in 1H 25: DNV

Alternative-fuel ship orders fall in 1H 25: DNV

Mexico’s trade balance swings to surplus in May

Mexico’s trade balance swings to surplus in May

Presiq may boost Brazil's petchems sector

Presiq may boost Brazil's petchems sector

Business intelligence reports

Argus EO and Derivatives

Argus EO and Derivatives

Argus Recycled Polymers

Argus Recycled Polymers

Argus Chlor-Alkali Analytics

Argus Toluene, Xylenes and Isomers Pet

Argus Toluene and Xylenes Outlook