According to the monitoring of the commodity market analysis system of SunSirs, the PVC spot market fluctuated within a range last week (2.24-28), and the price performance was weak. As of Friday, the average price of SG-5 PVC carbide method in China was 4,952 RMB/ton, with a price drop of 0.20% during the week.
At the beginning of last week, the PVC range fluctuated narrowly, with weak prices. During the week, some manufacturers made downward adjustments, with a range of less than 100 RMB/ton. The main reason is that there is not much positive news on the fundamentals, and crude oil prices have fluctuated, resulting in a downward trend and weak performance in the futures market. PVC prices have fluctuated within the range, with a slight downward shift in the overall range. From the perspective of supply and demand fundamentals, the spot PVC market has shown loose supply and demand, and most manufacturers are operating stably. The supply pressure has not changed much, dealers' offers are generally weak, downstream demand performance is insufficient, downstream procurement is mainly based on spot prices, inquiry and procurement enthusiasm is not high, and the market atmosphere is sluggish. The hanging order price is relatively low. Overall, it is still mainly driven by basic needs, and the trading atmosphere is average. As of now, the quotation range for PVC SG5 electric aggregate in China is mostly around 4,900-5,000 RMB/ton.
In terms of upstream calcium carbide, since February, the market price of calcium carbide has continued to fluctuate and fall, with a strong decline this week. According to the commodity analysis system of SunSirs, the decline is 5.54%. Upstream cost disadvantage has exerted certain pressure on PVC prices.
PVC analysts from SunSirs believe that the PVC spot market has light transactions, insufficient downstream operating rates, and average demand. It is expected that market transactions will not improve in the near future, and PVC prices are expected to remain weak this week.
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