According to the monitoring of the commodity market analysis system of SunSirs, last week (11.24-28), the PVC spot market mainly adjusted within the range, and the price did not change much compared to last week. The market price slightly increased during the week, with a growth rate of 0.48%. As of last Friday, the average price of SG-5 PVC carbide method in China was 4,452 RMB/ton.

Last week, there was not much change in the ex factory price of PVC manufacturers, with some minor adjustments controlled within 50 RMB/ton. The main reason is that the fundamentals have not improved significantly, and crude oil prices have shown weak performance. The PVC futures market is operating within a range, with slightly stronger fluctuations. This week, the spot market also maintained a range fluctuation trend, with prices mainly stabilizing and slightly rebounding. From the perspective of supply and demand fundamentals, the spot PVC market has shown loose supply and demand, and most manufacturers are operating stably. There is not much pressure on supply and demand, and dealer offers are generally weak. Downstream demand performance is insufficient, and downstream procurement is mainly based on spot prices. The enthusiasm for inquiry procurement is not high, and the market atmosphere is sluggish. Overall, it is still mainly based on basic needs. As of now, the quotation range for PVC SG5 electric aggregate in China is mostly around 4,480-4,520 RMB/ton.

In terms of upstream calcium carbide, as we enter November, the price of calcium carbide continues to decline. Last week, the calcium carbide market still showed weakness, and prices continued to decline. According to the Commodity Analysis System of SunSirs, the decline last week was 0.79%. The weak prices of upstream raw materials have brought certain negative effects to PVC.

The PVC analyst from SunSirs believes that in terms of cost, upstream calcium carbide continues to be weak, and there is no signal of a rebound in the market, which will continue to suppress PVC prices in the later stage. From the perspective of supply and demand, the PVC spot market has stopped falling but the rebound is weak, mainly due to insufficient downstream operating rates and average demand. The supply-demand pattern is difficult to change in the short term, and it is expected that PVC prices will continue to maintain a range adjustment pattern this week.

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