SunSirs: China PVC Prices Continued to Decline Last Week (July 15-19)

https://www.chemnet.com   Jul 22,2024 SunSirs

According to the monitoring of the commodity market analysis system of SunSirs, the PVC spot market continued to decline last week (7.15-19). As of Friday, the average price of PVC in China was 5,435 RMB/ton, with a decrease of 0.91% during the week.

Last week, the PVC spot market operated weakly, with prices still in a downward trend. With the weakening of the futures market, the spot PVC market generally followed suit, and coupled with supply and demand pressures, the spot market has weakened to some extent. Downstream procurement is mainly based on spot prices, with low enthusiasm for inquiry based procurement and a sluggish market atmosphere. 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 5,400-5,650 RMB/ton.

In terms of calcium carbide, as we enter July, the domestic price of calcium carbide continues to decline. According to data monitored by SunSirs, the price of calcium carbide fell by 1.34% last week and as much as 5.33% this month. Overall, the trading sentiment in the calcium carbide market was pessimistic during the week, and the situation of traders receiving goods was sluggish compared to before.

The PVC analyst from SunSirs believes that PVC supply is abundant in the short term, but there is still supply and demand pressure. On the cost side, the upstream price of calcium carbide has decreased, and the cost support is average. From the perspective of the futures market, the PVC futures market has shown weak performance in the later stage, which has affected the confidence of the spot market, and the spot market is generally bearish. It is expected that the PVC spot market will continue to fluctuate and consolidate within a certain range in the short term, and we will closely monitor changes in the news.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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