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Trade Service
According to the monitoring data of the cable network, this week, the spot price performance of the PVC market fluctuated slightly
.
The average price of PVC spot at the beginning of the week was 5240 yuan / ton, and the weekend price was 5232 yuan / ton, down 8 yuan / ton, down 0.
15%.
This week, merchant shipments were slow, the overall market atmosphere was light, the transaction situation was not ideal, and the trading atmosphere was lower than last week
.
The reasons for the decline in PVC market prices this week are as follows:
On a macro front, China's manufacturing operation continued to slow
down in April.
GDP grew 6.
7 percent in the first quarter of this year, the lowest since
2009.
The final Eurozone composite PMI came in at 53 in April, down 0.
1%
from the previous month.
The services PMI came in at 53.
1, unchanged from the previous month but slightly below expectations of 53.
2
.
From the perspective of the domestic PVC spot market, the overall spot market is affected by international crude oil quotations, and the commodity market quotations are falling
.
In the upstream market, the recent polyolefin market continued to be green, downstream demand was flat, and international crude oil showed a narrow range this week, and the impact on its downstream products was divergent
.
Asian ethylene prices held steady this week, the centralized maintenance of crackers continued, downstream cost pressure was still large, buyers slowed down the deadline of procurement, but suppliers had higher upfront costs and refused to give prices, and the short-term market was still slightly deadlocked
.
Spot market: PVC market in a narrow range, price trends in various regions are different, mixed up, South China, southwest, northwest closed with a rising trend, East China closed with a downward trend, northwest flat
.
In May, the settlement price in East China was 5400 yuan / ton, down 20 yuan / ton; North China settlement price of 5210 yuan / ton, up 10 yuan / ton; The ethylene settlement price was 5810 yuan / ton, up 10 yuan / ton; South China calcium carbide method reported 5220, flat, ethylene method 5780 tons, flat
.
The PVC market is weak and consolidated
.
Traders have a poor mentality, strong intention to make profits and shipments, and terminals are more holding goods and waiting for them, and basically purchasing
on demand.
Future market forecast: This week, the domestic PVC market is generally stable, some are still downward, and some of the expected market conditions are again down, aggravating the bearish atmosphere
of the market.
The downstream demand for high-priced raw materials has slowed down, and the market is mainly wait-and-see, but calcium carbide prices are relatively firm in the short term, which supports PVC costs strongly, and the fundamentals are expected to maintain range-bound
volatility in the short term.
It is expected that the PVC market will not perform well in the short term, and maintain a weak pattern
for the time being.
