1、 Price trend
According to the monitoring of the commodity market analysis system of Shengyi Society, the PVC spot market fluctuated within the range this week (5.19-23), and the price performance was weak. As of Friday, the average price of SG-5 PVC carbide method in China was 4681 yuan/ton, with a price drop of 0.95% during the week.
2、 Market analysis
This week, PVC prices have fallen from a high level and have not continued the previous upward trend. The main trend this week is bearish, and most manufacturers have made price adjustments within the week, with a range of around 50 yuan/ton. The market generally followed the decline, and dealers reported a decrease in offers. The main reason is the lack of favorable fundamentals, with crude oil prices fluctuating at low levels and the futures market continuing to decline. PVC spot prices tend to follow the downward trend and are relatively weak. From the perspective of supply and demand fundamentals, the spot PVC market has shown loose supply and demand, and most manufacturers’ equipment is 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 4650-4800 yuan/ton.
In terms of upstream calcium carbide, this week (5.19-23), the calcium carbide market remained stable, with a 0% increase or decrease according to the Commodity Analysis System of Shengyi Society. The price is still relatively low, with limited support for PVC.
3、 Future forecast
The PVC analyst from Shengyi Society believes that the sluggish performance of the PVC spot market is mainly due to low downstream operating rates, insufficient 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.