SunSirs: China PVC Price Range Adjustment Last Week (August 11-15)

According to the monitoring of the commodity market analysis system of SunSirs, the PVC spot market was mainly adjusted within the range last week (8.11-15), and the price did not change much compared to last week. After the market price rose during the week, it fell back, and the price basically returned to the level at the beginning of the week near the weekend. As of Friday, the average price of SG-5 PVC carbide method in China was 4,813 RMB/ton, with a slight increase of 0.17% during the week.

Last week, the ex factory prices of PVC manufacturers mostly remained as the previous week’s, with some slight adjustments controlled at 20-50 RMB/ton. The main reason is that the fundamentals have not improved significantly, the position of crude oil prices has fluctuated, and the futures market has also maintained a weak range. After the PVC price rose at the beginning of the week, it stopped rising from mid week to the weekend and slightly fell back, with a weak price and a slight downward shift in the overall range. From the perspective of supply and demand fundamentals, the spot PVC market has shown loose supply and demand, and most manufacturers are operating stably. The supply pressure has not changed much, dealers' offers are generally weak, downstream demand performance is insufficient, downstream procurement is mainly based on spot prices, inquiry and procurement enthusiasm is not high, and the market atmosphere is sluggish. The hanging order price is relatively low. Overall, it is still mainly driven by basic needs, and the trading atmosphere is average. As of now, the quotation range for PVC SG5 electrical aggregate in China is mostly around 4850-4980 RMB/ton.

In terms of upstream calcium carbide, the calcium carbide market rebounded last week, and prices continued to rise. According to the commodity analysis system of SunSirs, the increase this week was 1.39%. The price is still relatively low, with limited support for PVC.

The PVC analyst from SunSirs believes that the PVC spot market is lukewarm, mainly due to insufficient downstream operating rates, average demand, and difficulty in improving the supply-demand pattern in the short term. It is expected that PVC prices will continue to maintain a range adjustment pattern next week.

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