SunSirs: China PVC Spot Market Prices Rose Last Week (May 13-17)

https://www.chemnet.com   May 21,2024 SunSirs

　　According to the monitoring of the commodity market analysis system of SunSirs, the price of PVC in the spot market rose last week. The average price of domestic PVC was 5,604 RMB/ton on Monday and 5,714 RMB/ton on Saturday. The price increased by 1.96% within the week.

　　PVC spot market prices rose last week. The futures market was relatively strong last week, and the mainstream transaction price in the spot PVC market followed the rise. On the macro side, the interest rate of personal housing provident fund loans has been lowered since May 18. The macro news is positive. Today, the PVC futures price rose sharply, the downstream spot price rose one after another, and the enthusiasm for inquiry and purchase increased. Up to now, the quotation range of PVC SG5 type calcium carbide in China is mostly around 5,450–5,850 RMB/ton.

　　In terms of crude oil, international crude oil futures closed higher on May 16. The settlement price of the main contract of WTI crude oil futures in the United States was US $79.23 / barrel, up US $0.60 or 0.7%. The settlement price of Brent crude oil futures main contract was $83.27 / barrel, up $0.52 or 0.6%.

　　In terms of calcium carbide, according to the data monitored by the SunSirs, the price of calcium carbide manufacturers increased. The average price of domestic calcium carbide was 2,816.67 RMB/ton on May 10 and 2,833.33 RMB/ton last Friday. The price decreased by 0.59% within the week. On the whole, the trading sentiment of calcium carbide market was good during the week, and traders received goods more actively.

　　On the macro level, the people's Bank of China has decided to reduce the personal housing provident fund loan interest rate by 0.25 percentage points from May 18, 2024. The first personal housing provident fund loan interest rate for less than 5 years (including 5 years) and more than 5 years was adjusted to 2.35% and 2.85%, and the second personal housing provident fund loan interest rate for less than 5 years (including 5 years) and more than 5 years was adjusted to no less than 2.775% and 3.325%, respectively.

　　According to PVC analysts of shanghaishe, the PVC spot market rose last week. The price of upstream calcium carbide increased, and the cost support was good. International crude oil futures closed higher, macro news was positive, PVC futures market performance was eye-catching, the spot market only followed up, and the overall market situation was upward. It is expected that the PVC spot market will run stronger in the short term, and pay close attention to the changes in the news.

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