SunSirs: PVC Spot Prices Fell This Week (May 1-6)

Price trend

According to the monitoring of the commodity market analysis system of SunSirs, the SG5 PVC produced by calcium carbide method fell this week. On Monday, the average domestic PVC price was 5,925 RMB/ton, and on Friday, the average price was 5,868.33 RMB/ton. The price fell by 0.96% during the week.

Analysis review

The price of PVC in the domestic spot market fell this week. The overall trading atmosphere in the spot market this week was average. Inquiries in the spot market ere acceptable, and transactions were mostly made through pricing. Overall, demand was light, and actual transactions were cautious, with more wait-and-see. As of the 6th, the domestic price range for PVC5 models was mostly around 5,650-6,280 RMB/ton.

In terms of crude oil, on May 5th, international crude oil futures rebounded significantly. The settlement price of the main contract for WTI crude oil futures in the United States was 71.34 US dollars per barrel, an increase of 2.78 US dollars or 4.1%. The settlement price of the Brent crude oil futures main contract was 75.30 US dollars per barrel, an increase of 2.80 US dollars or 3.9%. The main reason was that the positive US employment data had eased market concerns about the economy falling into recession, and investors also generally believed that the Federal Reserve would suspend interest rate hikes in June. The oil market had received a boost.

In terms of calcium carbide, according to data monitored by SunSirs, the price of calcium carbide stabilized at a low level this week, with an average price of 2,983.33 RMB/ton. Upstream blue charcoal prices stabilized at a low level, with insufficient cost support. The downstream PVC market slightly declined, and demand for calcium carbide had weakened.

Market outlook

PVC analysts from SunSirs believe that PVC spot prices fell this week. Upstream calcium carbide prices stabilized at a low level, with average cost support. Downstream demand was light, procurement enthusiasm was average, most inquiries were wait-and-see, and actual transactions were cautious. It is expected that the PVC market will experience slight fluctuations in the short term, and attention should be paid to changes in the news surface.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.