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Trade Service
According to the monitoring data of the cable network, the spot price performance of the PVC market this week closed slightly lower
.
The average price of PVC spot at the beginning of the week was 6430 yuan / ton, and the weekend price was 6390 yuan / ton, down 40 yuan / ton, down 0.
62%.
This week's merchant shipments are light, the overall market atmosphere is weak, the transaction situation is not ideal, and the trading atmosphere is lower than last week
.
The reasons for the decline in PVC market prices this week are as follows:
On the macro front, this week, the latest data released by the US Treasury Department showed that the US federal government budget deficit in February was $192 billion, down slightly by 0.
6%
from the same period last year.
Domestically, affected by tail factors, the year-on-year growth rate of CPI fell to 0.
8% in February, far lower than market expectations
.
At present, the price of PVC market is not supported by rising factors, and PVC fundamentals have fallen
slightly.
In terms of the upstream market, the domestic calcium carbide market adjusted slightly this week, calcium carbide companies basically had no inventory, and some arrival areas reduced the purchase price to control the arrival, and it is expected that the domestic calcium carbide market will consolidate
at a low level in the short term.
Asian ethylene market quotations fell, CFR Northeast Asia fell 45 to 1164.
5-1166.
5 US dollars / ton; CFR Southeast Asia fell 20 to $1079.
5-1081.
5 / ton
.
Ethylene prices closed low, Nanyang supplies were abundant, and some merchants were considering moving goods from Southeast Asia to Northeast Asia
.
Spot market: Some domestic PVC spot market prices fell
this week.
North China calcium carbide law reported 6370 yuan / ton, flat; ethylene law reported 6640 yuan / ton, down 10; East China calcium carbide law reported 6400 yuan / ton, flat
.
South China calcium carbide method reported 6400 yuan / ton, flat, ethylene method 6950 tons, flat
.
The price of raw materials was basically flat, East China reported 3,000 yuan, flat, and Northwest reported 2,600 yuan, flat
.
Future market forecast: This week, the PVC physical market trend is volatile and falling
.
Overall, the current PVC market is still facing greater downward pressure under the influence of various factors such as high inventory, volatile pullback in the commodity market, and slow recovery of downstream starts.
At present, the shipment pressure of the PVC market is still unabated, and the inventory of major ports, terminals and warehouses is high; Manufacturers still maintain a high operating load, while some provinces in North China have strict environmental protection inspections, some downstream processing plants have been hindered in production, the contradiction between supply and demand imbalance is prominent, and prices have fluctuated lower
.
It is expected that there is still a possibility
of a correction in the PVC market in the short term.
