A brief comment on the PVC market of China Plastic

2022-07-23
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On October 10, a brief comment on the PVC market of China Plastics warehouse receipts

I. brief description of the market:

today, the PVC warehouse receipts fell sharply at the opening and closed down at the end. 11: At 00, the warehouse receipt index closed at 1164.64 points, down 16.23 points from yesterday. The trading atmosphere turned cold, the trading volume decreased significantly, and the order volume was basically the same as yesterday

pv0611 opened lower today, the intraday price remained at the close, and closed at 7280 yuan/ton at the end of the day. The settlement price decreased by 44 yuan/ton compared with yesterday. The trading atmosphere was cold, the double volume decreased significantly, and the disk sellers were dominant

pv0612 opened sharply lower today and closed at 7260 yuan/ton at the end of the day. The settlement price fell by 144 yuan/ton compared with yesterday, the transaction atmosphere turned cold, the trading volume decreased significantly, the order volume increased slightly, and the strength of the disk buyers and sellers was equal

II. Comprehensive comments:

the international crude oil price rebounded moderately. WTI and Brent closed at 59.96 and 60 respectively. The calculation shows that it is not $0.54/barrel. The price of ethylene in the Far East was lowered by USD/ton. In terms of PVC spot, the ex factory price of domestic petrochemicals remained stable. The high technical level of each region and city continues to show a downward trend. The low-end report is used for independent non financing fixed or adjacent financing sections. Although it also requires a large number of materials with high thermal conductivity, electrical conductivity and corrosion resistance, the downstream purchase intention is flat, the market mentality is poor, and the terminal transaction is general. The market price of PVC raw materials in Yuyao plastic city was maintained in the early stage, and the delivery of goods was slow. Overall, the PVC market is still in the doldrums, which will be difficult to reverse in the short term

(personal view, for reference only; enter the market accordingly, at your own risk)

source of information: China plastics trading

note: the source of this reprint is indicated. The reprint is for the purpose of transmitting more information, and does not mean that you agree with their views or confirm the authenticity of their contents

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