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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 7520 yuan / ton, and the weekend price was 7460 yuan / ton, down 60 yuan / ton, down 0.
80%.
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 side, the August economic data released this week was not good, commodities fell overall, and the market sentiment was bearish
.
The market's expectations of demand and confidence in the OPEC production cut agreement have led to a sharp rise in oil prices, but the increase in inventories and the recovery of U.
S.
production have constrained oil prices to rise, and crude oil is expected to be dominated by strong shocks in the later period, which is more beneficial to chemicals
.
In the upstream market, Japan Naphtha CF Japan reported 505.
62 yuan / ton, down 1; Naphtha FOB Singapore was trading at $54.
14 a barrel, down 0.
11
.
ethylene CFR Northeast Asia 1315, flat; CFR Southeast Asia was flat at $1200/mt
.
Spot market: The price of some domestic PVC spot market is basically flat
.
North China calcium carbide law reported 7650 yuan / ton, down 20; ethylene law reported 7780 yuan / ton, down 140; East China calcium carbide law reported 7450 yuan / ton, down 100; South China calcium carbide method 7700, down 50, ethylene method 7950 tons, flat
.
The price of raw materials was basically flat, with East China reporting 3100 yuan, flat, and Northwest reported 2700 yuan, flat
.
Future market forecast: This week, the PVC physical market trend is volatile and falling
.
Overall, the recent increase in calcium carbide furnace maintenance, uneven arrival of calcium carbide, tight local supply, upward prices, ethylene market concerns about supply tightening, strong center of gravity shocks, and cost support
.
PVC costs are positive, supply remains tight, demand is supported in the short term, fundamentals are relatively healthy, rapid decline or rebound, but with the end of the equipment maintenance restart, upstream or accumulation, October supply is expected to increase, and into the winter demand will be weak, fundamentals are expected to weaken, from the current trend, there are signs of
rushing.
It is expected that there may be a rebound in the short term, and it is recommended to be short or wait and see, and the medium and long-term is short, and the rebound high can be tested short
.
