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SunSirs: China PVC Spot Market Prices Remain Stable with Slight Increase after the Spring Festival
February 29 2024 10:46:05SunSirs(Selena)

According to the monitoring of the commodity market analysis system of SunSirs, the PVC spot market prices have remained stable and increased after the Spring Festival. On February 17th, the average domestic PVC price was 5,566 RMB/ton, and on February 26th, the average price was 5,592 RMB/ton, with a weekly price increase of 0.47%.

After the Spring Festival, the spot market price of PVC remained stable with an increase. At present, the spot market situation is average, and the trading situation is relatively light. The manufacturer's quotation is mainly stable. Traders have relatively flexible prices, and market transaction prices fluctuate. Downstream markets are more wait-and-see, and if you just need to pick up the goods, use a little to pick them up. Actual transactions remain cautious. As of now, the quotation range for PVC SG5 type carbide materials in China is mostly around 5,540-5,850 RMB/ton.

In terms of crude oil, on February 23rd, international crude oil futures plummeted by nearly 3%. The settlement price of the main WTI crude oil futures contract in the United States was $76.49 per barrel, a decrease of $2.12 or 2.7%. The settlement price of the Brent crude oil futures main contract was $80.80 per barrel, a decrease of $1.90 or 2.3%. The main reason is that the Federal Reserve has released hawkish signals, delaying expectations of interest rate cuts and suppressing market confidence.

In terms of calcium carbide, according to data monitored by SunSirs, the prices of calcium carbide manufacturers have decreased after the Spring Festival. On February 17th, the average price of domestic calcium carbide was 2,933.33 RMB/ton, and on February 26th, the average price was 2,900 RMB/ton, with a 1.14% decrease in prices during the week. With the recovery of logistics transportation, enterprise shipments have improved, production enterprises are actively shipping, and inventory has decreased.

PVC analysts from SunSirs believe that the PVC spot market is average after the Spring Festival. Upstream calcium carbide has been lowered, with average support. Traders have more flexible prices, with market prices fluctuating. Downstream factories are more cautious and restock as needed. It is expected that the PVC spot market will fluctuate and consolidate within the short term, and we will closely monitor changes in the news.


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