According to the monitoring of the Commodity Market Analysis System of SunSirs, the spot price of PVC carbide SG5 fluctuated and fell last week. Last Friday, the average domestic PVC price was 5,548 RMB/ton, and this Friday's average price was 5,524 RMB/ton, with a price drop of 0.43% during the week.
The price of PVC in the domestic Spot market fell sharply this week. At the beginning of the week, spot prices rose in the market, while prices fell over the weekend. Overall, the price decline was the main trend. At present, the trading atmosphere in the market is light, and downstream procurement is lukewarm and not enthusiastic. Enquiries and procurement enthusiasm are not active, and actual transactions are cautious and more wait-and-see. As of now, the quotation range for PVC5 carbide materials in China is mostly around 5,280-6,170 RMB/ton.
In terms of crude oil, international crude oil futures closed lower on June 8th. The settlement price of the main contract for WTI crude oil futures in the United States was $71.29 per barrel, a decrease of $1.24 or 1.7%. The settlement price of the main contract for Brent crude oil futures was $75.96 per barrel, a decrease of $0.99 or 1.3%.
In terms of calcium carbide, according to data monitored by the Business Society, the factory prices of calcium carbide in the northwest region have slightly decreased this week. Last Friday, the average ex factory price of mainstream calcium carbide manufacturers in Northwest China was 3,150 RMB/ton. This Friday, the average price was 3,000 RMB/ton, and the price fell by 4.76% during the week. The price of raw material Shenmulan charcoal has decreased, and the cost support for calcium carbide is insufficient. The downstream PVC market has fluctuated and declined, and downstream customers have average enthusiasm for purchasing calcium carbide. In the future, it is expected that the factory price of calcium carbide in the northwest region may fluctuate slightly and decrease, with consolidation being the main trend.
PVC analysts from Business Society believe that PVC spot prices have fluctuated and fallen this week. At present, the factory price of calcium carbide has slightly decreased. On June 8th, international crude oil futures closed down, with weak cost support. In addition, the demand of PVC Spot market is still weak, and the downstream and traders are mainly wait-and-see, resulting in poor market confidence. It is expected that China PVC market will be weak in the short term and closely monitor changes in the news.
