SunSirs: China Domestic PVC Market Continued to Decline in August

https://www.chemnet.com   Sep 03,2024 SunSirs

According to the monitoring of the commodity market analysis system of SunSirs, the domestic PVC spot market fell last month in August. As of August 31st, the average price of PVC in China was 5,344 RMB/ton, with a monthly price drop of 1.98%.

Last month, the PVC spot market showed a weak performance, with prices continuously fluctuating and falling. On the one hand, it has been suppressed by the continuous decline of the futures market, and guided by the futures market. The spot PVC market generally follows the trend of decline, and combined with supply and demand, there is a certain pressure. The spot market has not yet escaped the downward channel. Although there is a slight rebound trend in the market in the later part of the month, it is mainly affected by the short-term load reduction operation of enterprises and the impact of rising prices. However, the market has returned to weakness at the end of the month, and there is currently no signal of bottoming out and stabilizing in the market. 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 August 31st, the mainstream price range of PVC SG5 electrical aggregate in China is mostly around 5,200-5,450 RMB/ton.

In terms of calcium carbide, as we enter August, the domestic price of calcium carbide continues to decline. According to data monitored by Business Society, the price of calcium carbide has dropped by 1.86% 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 in the short term, the supply and demand fundamentals of PVC are still weak, with sufficient supply and continued pressure on supply and demand. On the cost side, the upstream price of calcium carbide is weak, 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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