Analysis of the domestic PVC market this week (5.2-5.6)

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.
The manufacturing PMI was 49.
4, below the 50 line for the 14th consecutive month, below expectations of 49.
8 and 0.
3 percentage points
lower than the previous value.
U.
S.
real GDP in the first quarter increased by 0.
5% quarter-on-quarter and 0.
7% in the preliminary GDP deflator in the first quarter, 0.
5% expected and 0.
9%
prior.
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
.
The settlement price in South China in May was 5394.
29 yuan / ton, up 43.
59 yuan / ton; East China settlement price of 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
.
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.
Traders in the spot market did not ship well, and the quotation fell steadily, allowing profits to be shipped sources
.
The factory price of upstream manufacturers is temporarily stable
.
The fundamentals are long and short intertwined, and the futures price is expected to remain weak and volatile
.
It is expected that the PVC market will not perform well in the short term, and maintain a weak pattern
for the time being.