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SunSirs: Cost Side Support is Stronger, China PVC Market Ffluctuates and Rises

March 16 2021 10:33:07     SunSirs (Selena)

According to the data monitored by SunSirs (the average price of SG5 manufactured by calcium carbide method), on March 11, the mainstream average price of PVC in China was 8,612.5 RMB/ ton, which was 0.44% higher than that at the beginning of the week, 17.18% higher than that at the beginning of the month, and 37.8% higher than that at the same period last year.

Since the sharp rise in February, the PVC market entered the consolidation period, with a slight price correction. Last week, the PVC market opened an upward channel again, with a slight price rise. Last week's price rise was mainly due to the rise of futures, which led to the trend of spot price. In addition, the recent shortage of raw material calcium carbide has led to a sharp rise in price. In March, the price has increased by more than 14%. The cost support is strong, which supports the upward trend of PVC. The quotation of PVC enterprises has increased by 50-200 RMB/ ton, followed by the narrow adjustment of futures price. At present, the futures price of PVC fluctuates at a high level, and the spot market has a slight correction after rising. The market transaction atmosphere is general, but just demand is still there. At the same time, the international supply of goods is still tight, and the export performance is good. Although PVC has a small accumulation, it is lower than that of the same period last year. On the whole, there is no obvious negative restriction for PVC. In the short term, the price correction is also in the finishing stage after a big rise, which is strongly supported by the cost side. The trend of PVC is strong.

In terms of spot price, the mainstream quotation range of PVC5 calcium carbide in China is about 8,400-8,700 RMB/ ton, and the quotation in local markets is callback after rising, and fluctuates in a narrow range. In terms of futures, futures fluctuated at a high level and fell back, driving the spot trend. V2105 contract opening price was 8,530 RMB/ ton, the highest 8,755 RMB/ ton, the lowest 8,440 RMB/ ton, closing price 8,705 RMB/ ton, up 250 RMB/ ton, or 2.96%. The turnover was 517,000, an increase of 41,944. Position was 333,000, an increase of 34,511.

SunSirs PVC analysts believe that the current PVC futures price fluctuates at a high level, the spot market rises and then slightly callbacks, downstream demand is cautious in purchasing, the acceptance of high price PVC is not high, the market transaction atmosphere is general, but just need is still in, at the same time, the export performance is good, manufacturers are not under pressure to ship, PVC price is expected to be relatively volatile in the short term, and PVC market will be in the future with strong support from the cost side.

 

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