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SunSirs: China PVC market Rose first and then Fell in Early August
August 09 2022 09:13:23SunSirs(Selena)

Price trend

According to the data monitored by SunSirs, the price of PVC carbide SG5 fell last week. The average price of domestic PVC was 6,668.57 RMB/ ton last Friday. The price fell by 1.58% in the week.

Market analysis

Last week, the domestic spot market of PVC rose first and then fell. On the whole, the price fell mainly. Last week, the futures fell continuously, the confidence of the spot market was insufficient, and the market situation gradually weakened. At present, the market demand for PVC is weak, and the sales of the holders are under pressure. The overall purchasing enthusiasm of downstream enterprises is poor. They purchase at a low price and receive orders on demand. Up to now, the quotation range of domestic pvc5 electric stone is mostly around 6,600-6,780 RMB/ ton

On August 4, international crude oil futures fell continuously to the lowest point since February. The settlement price of the main contract of WTI crude oil futures in the United States was US $88.54/barrel, down US $2.34 or 2.12%; The settlement price of the main contract of Brent crude oil futures was US $94.12/barrel, down US $2.66 or 2.75%. The main reason is that at the macro level, the Bank of England announced an interest rate increase of 50 basis points on Thursday to curb the economic recession that may be triggered by inflation, which continued to be negative for oil prices. This was compounded by the sharp increase in US commercial crude oil inventories last week and the increase in production targets of Oil Producing Countries OPEC.

In terms of calcium carbide, the average price of calcium carbide was 3,933.33 RMB/ ton last Friday, with a price increase of 2.16% in the week. Last week, the factory prices of calcium carbide manufacturers were mostly stable, and the prices of individual enterprises increased. The price of upstream orchid charcoal is low and the cost support is general.

Market forecast

SunSirs PVC analysts believe that the spot price of PVC rose first and then fell last week. At present, the demand of PVC spot market is poor. In the downstream, it is mostly wait-and-see, mainly taking orders on demand, and the transaction atmosphere is light. In recent days, futures prices have fallen continuously, which has depressed the confidence of the spot market. It is expected that the PVC market in China will continue to shake up in the short term.

 

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