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SunSirs: China PVC Spot Market Prices Fluctuated and Fell in March
April 02 2024 14:17:05SunSirs(Selena)

According to data monitored by SunSirs, the PVC spot market prices fluctuated and fell in March. On March 1st, the average price of PVC in China was 5,608 RMB/ton. On March 29th, the average price was 5,552 RMB/ton, and the price dropped by 1% during the month.

The PVC spot market prices fluctuated and fell in March. In early March, PVC spot market prices first rose and then fell. High priced goods in the spot market are difficult to transact, and downstream purchasing enthusiasm for spot goods is not high, causing prices on the market to shift from rising to falling. In mid month, the spot market price of PVC first fell and then rose. With a slight increase in calcium carbide prices in the mid to late period, it boosted confidence in the spot market. The market price has fluctuated from decline to rise. In the latter half of the year, the market fell again, with weak confidence in the spot market and a decrease in enterprise quotations. Downstream markets were more wait-and-see, and transactions were cautious. As of now, the quotation range for PVC5 type carbide materials in China is mostly around 5,330-5,730 RMB/ton.

In terms of crude oil, on March 28th, international crude oil futures rose significantly. The settlement price of the main WTI crude oil futures contract in the United States was $83.17 per barrel, up $1.82 or 2.2%. The settlement price of Brent crude oil futures main contract was reported at $87.00 per barrel, an increase of $1.59 or 1.9%.

In terms of calcium carbide, according to the commodity market analysis system of SunSirs, the ex factory price of calcium carbide in the northwest region increased in March. On March 1st, the average ex factory price of mainstream calcium carbide manufacturers in Northwest China increased from 2,933.33 RMB/ton at the beginning of the week to 2,983.33 RMB/ton on March 29th, an increase of 1.7%. Currently, enterprises are reducing their burden and demand is slowly recovering. Inventory pressure in factories has decreased, and some enterprises have increased their operating rates. The supply pressure of calcium carbide is still significant, and downstream operating conditions are not optimistic. In the short term, calcium carbide still maintains a range adjustment operation.

According to PVC analysts from SunSirs, the operating load of PVC plants slightly increased in March; Downstream demand is still dominated by rigid demand, and there are no significant positive factors in the market. It is expected that PVC spot prices will continue to weaken and consolidate in the short term.


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