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SunSirs: Supply Continues to be Tight, PVC Prices Rise sharply in China
November 20 2020 11:16:12SunSirs(Selena)

According to the data monitored by SunSirs (the average ex-factory price of calcium carbide method SG5), on November 17, the mainstream average price of China domestic PVC was 7,832.5 RMB/ ton, up 2.05% compared with the previous day, 10.43% higher than the beginning of the month, 12.29% month on month, and 16.17% higher than the same period last year.

At the beginning of this week, PVC showed a strong pattern, and the mainstream prices rose significantly. From November 16 to 17, the prices rose continuously, mostly in the range of 100-350 RMB/ ton. Some enterprises have now risen to 8,000 RMB/ ton, and the futures price has broken through 7,500 RMB/ ton. The shipping quotation of Formosa Plastics in December has increased $40-100/ ton, which is beneficial to the rise of futures price, and the PVC market continues to be good, and the current price is in up trend. At present, the tight supply of PVC spot market continues, but the inventory continues to decrease, the off-season effect lags behind, and the price of raw material calcium carbide rises, which jointly boost the PVC market. The overall market mentality is good, and there is still bullish expectation in the short term.

In terms of spot goods, domestic PVC5 type tourmaline's mainstream quotation range is 7,870-7,940 RMB/ ton. In East China, the mainstream price of PVC5 type calcium carbide is around 7,550-7,650 RMB/ ton; in Hebei Province, the price is 7,750-7,800 RMB/ ton; in Inner Mongolia, the price is 7,530-7,570 RMB/ ton, including tax; in Hangzhou, the price is 7,920-8,070 RMB/ ton; in Changzhou, it is 7,950-8,050 RMB/ ton; in Changzhou, the mainstream price is 7,950-8,050 RMB/ ton; in Guangzhou, the price is 8,030-8,100 RMB/ ton; the quotations from all over the country are rising steadily.

In terms of futures, PVC futures rose sharply to a new high recently, boosting the spot market. On November 17, the main PVC futures contract 2101 opened at 7,515 RMB/ ton and closed at 7,525 RMB/ ton. Yesterday, the settlement price was 7,420 RMB/ ton, up 1.42%. The trading range was 7,340-7,530 RMB/ ton, with 269,968 transactions and 301,296 positions.

SunSirs PVC analysts believe that the current PVC spot market supply is still tight, and the inventory continues to decline, indicating that the support of downstream demand is not retreating, and the off-season effect is lagging behind. In addition, the price of raw calcium carbide is rising, and the cost side is strongly supported, and the futures are pulling up. It is expected that China PVC market will be strong in the short term, and there is still a rising expectation.

 

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