September 22, 2022
According to the data monitored by SunSirs, the price of PVC calcium carbide SG5 was lowered last week. The average price of domestic PVC was 6,504.29 RMB/ ton before, 6,471.43 RMB/ ton last Friday and 0.51% lower within the week.
Last week, the domestic spot market price of PVC rose first and then fell. At present, the spot market is in a general situation, the downstream inquiry is fair, the follow-up of actual orders is insufficient, the market trading atmosphere is cautious, and the downstream enthusiasm for taking goods is not high. Up to now, the quotation range of domestic PVC5 carbide materials is mostly around 6,080-6,650 RMB/ ton.
In terms of crude oil, on September 15, international crude oil futures fell. The settlement price of the main contract of WTI crude oil futures in the United States was 85.10 dollars/barrel, down 3.38 dollars or 3.8%; The settlement price of the main contract of Brent crude oil futures was 90.84 dollars/barrel, down 3.26 dollars or 3.5%. WTI crude oil fell nearly 4%, hitting a one week low. At the macro level, the Federal Reserve may significantly increase interest rates, making the dollar stronger again, depressing oil price estimates. In addition, the expectation of global economic recession continues to depress oil prices.
In terms of calcium carbide, the factory price of calcium carbide in northwest China fell slightly last week. Last week, the average ex factory price of mainstream carbide manufacturers in northwest China fell from 3,700 RMB/ ton on Friday to 3,616.67 RMB/ ton at the end of this week, a decline of 2.25%. The upstream carbon price was adjusted at a low level, and the cost support was average. The downstream PVC market was adjusted at a low level, and the demand for calcium carbide was average.
SunSirs PVC analysts believe that the spot price of PVC rose first and then fell last week. At present, the demand of PVC spot market is general, and the market trading is light. The decline of futures affects the confidence of the spot market, and the downstream is cautious in taking goods. The upstream carbide price fell and the cost support was insufficient. It is expected that China PVC market price will be stabilized temporarily in the short term.
|Contact Person :||Mr. Karl Shen|
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