Lack of Market Confidence, China PVC Price Fell Last Week (August 12-19)

August 29, 2022

Latest company news about Lack of Market Confidence, China PVC Price Fell Last Week (August 12-19)

Price trend

According to the data monitored by SunSirs, the price of PVC carbide SG5 fell last week. The average price on Friday was 6,325 RMB/ ton, and the price fell by 3.73% during the week.

Market analysis

Last week, the domestic spot market price of PVC was lowered. At present, the spot market is relatively light, and the enthusiasm of downstream and traders to take goods is not high. Last week, the futures prices showed a downward trend of increasing positions as a whole. In addition, the real estate data continued to perform poorly, the market confidence was obviously insufficient, the market situation weakened, and the sales of the carriers were under pressure. Up to now, the quotation range of domestic PVC5 electric stone is mostly around 5,950-6,580 RMB/ ton.

In terms of crude oil, on August 19, the domestic SC crude oil futures rose, and the international oil price rebounded for two consecutive trading days. On Thursday, Brent crude oil rose by more than 3%, and SC crude oil rose in the internal market. The main contract of SC crude oil rose by 3.40% to close at 692.7 RMB. The US economic data showed strong performance. Last week, the number of people applying for unemployment benefits in the United States decreased to 250,000, the first drop in three weeks, indicating that the demand for labor is still healthy. In addition, the commercial crude oil inventory data released by the US Energy Information Administration (EIA) on Wednesday was good, and the crude oil and gasoline inventories fell sharply more than expected. The fuel demand was still strong, diluting the worries about the slowdown of fuel demand caused by the risk of economic recession.

In terms of calcium carbide, the average price of calcium carbide last Friday was 4,050 RMB/ ton, and the average price of this Friday was 3,766.67 RMB/ ton, with the price falling by 7% during the week. Last week, the factory prices of calcium carbide manufacturers were mostly stable, and the prices of individual enterprises increased. The price of blue carbon in the upstream is low, and the cost is generally supported. The price of PVC in the downstream decreases slightly, and the demand for calcium carbide weakens.

Market forecast

The spot price of PVC fell last week in China. At present, the demand of PVC spot market is general. The performance of real estate data is poor, and the downstream enterprises mostly wait and see. The trading is not warm and the market trading atmosphere is general. It is expected that China PVC market will continue to shake up and move in a defined range bound pattern.

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