According to the monitoring of the commodity market analysis system of SunSirs, the spot price of PVC carbide method SG5 continued to rise last week. At the beginning of the week, the average domestic PVC price was 5,794 RMB/ton, and the average weekend price was 5,980 RMB/ton, with a price increase of 3.21% during the week.
Last week, the domestic spot market price of PVC continued to rise. At present, the two markets are full of confidence and the trading sentiment on the market is good. This week's futures market is mainly rising, and today's futures closing price is even higher, with a peak of 6,664 indicating strong market confidence. The spot market is relatively active in shipping, with manufacturers significantly increasing prices and most transactions being at a fixed price. Downstream demand is mainly focused on acquiring goods, and it is difficult to transact high priced goods. Some low-priced goods are received by hedging merchants, but actual transactions are still cautious. As of now, the quotation range for PVC SG5 type carbide materials in China is mostly around 5,760-6,150 RMB/ton.
On May 23rd, international crude oil futures continued to decline. The settlement price of the main WTI crude oil futures contract in the United States was $76.87 per barrel, a decrease of $0.70 or 0.9%. The settlement price of the Brent crude oil futures main contract was $81.36 per barrel, a decrease of $0.54 or 0.7%. As of now, crude oil has been declining for four consecutive trading days, WTI crude oil fell to a nearly three-month low. The main reason is that the high interest rate environment in the United States has brought pressure to demand, and in addition, US inventory data is bearish and geopolitical risk premiums are decreasing.
SunSirs PVC analysts believe that the trading sentiment in the PVC spot market was positive last week. On the news level, whether it is the reduction of personal housing provident fund loan interest rates or the significant increase in TMA prices for PVC pipes and accessories purchased by China Mobile, both have boosted the positive outlook for the PVC futures market. However, crude oil has been falling for four consecutive trading days, leaving some bearish space for the PVC market. Overall, it is expected that the PVC market may continue to operate strongly in the short term, and we will closely monitor changes in the news.
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