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SunSirs: China PVC Spot Market Prices Fluctuated narrowly with Strong Fluctuations in April
May 08 2024 14:45:36SunSirs(Selena)

On May 5th, the General Plastics Index was 830 points, unchanged from yesterday, a decrease of 29.12% from the highest point in the cycle of 1,171 points (2021-10-14), and an increase of 27.11% from the lowest point of 653 points on April 6th, 2020. (Note: The cycle refers to 2011-12-01 present)

In April, the general plastic industry saw an overall red trend. After the Qingming Festival, the general material consumption market has gradually taken over the pattern of downstream resumption of work in March. At the same time, March and April are also the peak seasons for some plastic products such as PE. Coupled with the release of pre holiday stocking demand during the May Day holiday, multiple consumer side benefits are added to the April rigid demand base. The strengthening of international crude oil at the beginning of the month in the remote upstream injected strong cost support into the general plastic industry. Except for EVA, the general material market has shown a positive trend during the month, boosted by demand and cost.

Fundamentals: In April, the PVC spot market prices fluctuated narrowly with strong fluctuations, with gains concentrated in the first half of the month. In the first half of the month, the momentum of the spot market was still good, and manufacturers had a strong willingness to raise prices. Merchants tried to report higher prices, and the terminal just needed support. In the latter half of the year, the speed of on-site sales slowed down, and the buyer camp was more cautious in procurement. There was a strong wait-and-see attitude, and the enthusiasm for stocking up before the holiday was average.

Dominant factors: In April, the PVC fundamentals were bullish and bearish, and the performance of the main futures contracts was average during the transition period. The market lacks guidance and is generally stagnant and stable.

Upstream calcium carbide destocking is slow, while downstream real estate data is still declining. It is expected that PVC spot prices may shift to a range of weak fluctuations in the short term.

 

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