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In the last trading day, the domestic PVC market was dominated by weak consolidation, and oil prices fell sharply overnight, of which WTI fell below the $50 mark, PVC futures opened low and went low, dragging down the spot market, and some source prices were loose; The trading atmosphere of the PVC market is sluggish, and merchants are mainly cautious and wait-and-see
.
The bearish news is as follows: WTI July crude oil futures closed down $2.
46 at $48.
90 per barrel; Brent crude for July delivery closed down $2.
50 at $51.
46 a barrel
.
In terms of equipment maintenance, Shandong Longhui Petrochemical's 60,000 tons/year PVC paste resin plant was stopped for maintenance on May 17 and resumed operation
today.
Suzhou Huasu's 130,000-ton plant will be shut down for maintenance for 3 days from May 23, and it is planned to start up
today.
At present, there are many PVC maintenance enterprises, and the inventory of enterprises is low, but the recent market weakness dragged down by futures, some companies have lowered factory prices, the support for the PVC market has weakened, and the market trading atmosphere is weak
.
It is expected that the domestic PVC market will maintain a weak consolidation
today.
