SunSirs: China PVC Spot Market Suppressed and Rose Last Week (October 30- November 3)

According to the monitoring of the commodity market analysis system of SunSirs, the spot price of PVC carbide SG5 first fell and then rose last week, and overall, the price increased. At the beginning of the week, the average price of PVC in China was 5,854 RMB/ton, while the average price over the weekend was 5,884 RMB/ton. The price increased by 0.51% during the week.

Last week, the domestic spot market price of PVC fell first and then rose, and overall, the price increased. Last Friday, the closing price of futures rose, driving confidence in the spot market. The market atmosphere was relatively active, with more inquiries and tentative increases from manufacturers. However, there was a clear resistance to high prices in the downstream market, with traders mainly shipping at one go, and actual transactions remained cautious. As of now, the quotation range for PVC SG5 carbide materials in China is mostly around 5,820-6,050 RMB/ton.

In terms of crude oil, on November 2nd, international crude oil futures ended their three consecutive declines and saw a rebound. The settlement price of the main contract for WTI crude oil futures in the United States was $82.46/barrel, an increase of $2.02 or 2.5%. The settlement price of the main contract for Brent crude oil futures was $86.85/barrel, an increase of $2.22 or 2.6%. The main reason is that the Federal Reserve maintains interest rates unchanged, reducing future demand pressure, and increasing risk appetite.

In terms of calcium carbide, according to data monitored by SunSirs, the prices of calcium carbide manufacturers temporarily stabilized last week, with an average domestic price of 2,916.67 RMB/ton. The upstream price of blue charcoal is stable and weak, with average cost support. The downstream PVC market is average, and the demand for calcium carbide is weakening.

PVC analysts from SunSirs believe that last week's PVC spot market trading was average. Upstream calcium carbide is temporarily stable and organized, with acceptable support. International crude oil futures have ended their three consecutive declines and rebounded, which has affected the PVC futures market and boosted confidence in the spot market. It is expected that the PVC market will move slightly upwards in the short term and closely monitor changes in the news.

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