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SunSirs: China PVC Market Fluctuated and Fell this Week
August 09 2024 13:39:40SunSirs(Selena)

This week, the PVC market fluctuated and fell, and the price center continued to shift downwards. As of August 8th, the weekly average price of SG-5 PVC produced by calcium carbide method in China was 5,557 RMB/ton, a decrease of 25 RMB/ton or 0.45% compared to the previous period, and the weekly average price continued to decline. The supply and demand fundamentals are weak, and participants lack confidence. The macro situation slightly improved in the middle of the week, driving the market to explore a slight increase. The main driving factors affecting the market trend this week are the weak performance of PVC fundamentals and poor macro atmosphere. In terms of fundamentals, the operating load rate of the PVC industry slightly increased during the week, but demand was weak and export orders were not high. The overall social inventory (East/South China warehouses+upstream factory warehouses) increased. On the macro level, the domestic macro news is calm, and the participants' mentality is relatively cautious; Externally, the US non farm payroll data for July has weakened across the board, with poor market sentiment leading to trading on "recession expectations". Commodities are under pressure, and the PVC market is adjusting accordingly.

The fundamental pressure on the PVC market will still exist next week, with no macro support and no upward driving force in the market. However, as the price of PVC falls to a relatively low level, participants' mentality will become increasingly cautious. It is expected that the PVC market range will be weak and volatile next week, and the downward space may narrow.

 

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