1、 Price trend
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According to data monitored by the Business News Agency, the price of PVC carbide SG5 fell this week, with the average domestic PVC price of 6225 yuan/ton at the beginning of the week and 6183.33 yuan/ton on Friday. The price fell by 0.94% during the week.
2、 Market analysis
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The domestic spot market price of PVC was lowered this week. Currently, the spot market is relatively light, and the enthusiasm of downstream and traders to take goods is not high. The poor performance of futures prices this week has affected confidence in the spot market. In addition, due to the decrease in the price of raw calcium carbide, raw material support is limited. The market inquiry atmosphere was weak and fell, with downstream customers waiting and watching, and the actual transaction was cautious. Up to now, the quotation range of domestic PVC5 carbide materials is mostly around 5800-6300 yuan/ton.
In terms of crude oil, on March 16th, international crude oil futures rose. The main contract settlement price for US WTI crude oil futures was USD 68.35/barrel, up USD 0.74 or 1.1%. The settlement price of the main contract for Brent crude oil futures was $74.70 per barrel, up $1.01 or 1.4%. Financial market panic eased and US stocks rebounded. There is news that Saudi Arabia and Russia have met to discuss measures to stabilize the market, and oil prices have bottomed out and rebounded.
In terms of calcium carbide, according to data monitored by the Business Society, the average price of calcium carbide at the beginning of the week was 3483.33 yuan/ton, compared to 3466.67 yuan/ton on Friday, with a decrease of 0.48% during the week. Calcium carbide manufacturers’ prices fell this week. The price of upstream blue charcoal decreased slightly, with insufficient cost support. The downstream PVC market declined slightly, and the demand for calcium carbide weakened.
3、 Aftermarket Forecast
PVC analysts from Business News believe that the spot price of PVC fell this week. Currently, the demand for PVC spot market is general. Downstream customers are more wait-and-see, cautious in actual orders and transactions, and primarily on demand. It is expected that in the short term, the PVC market will continue to fluctuate, consolidate and operate, and pay close attention to changes in the news.