Introduction
This week, the fundamentals of PVC Resin have not changed much, and there are not many new maintenance enterprises. Some early maintenance devices are gradually recovering; The demand side has not changed much, domestic demand is flat, and exports have not shown any volume growth. There are currently no obvious unilateral driving factors this week, and the PVC powder market is operating with narrow fluctuations. Next Friday, some downstream markets will have a holiday, and market trading will be flat. It is expected that the fundamental changes will be limited, but the commodity atmosphere will be slightly stronger. It is expected that the price center of PVC powder market will shift upwards next week.
The PVC powder market fluctuated slightly this week and is still in a volatile state. According to data, the operating range of SG-5 Pvc Resin in East China from April 19th to April 24th was 5510-5630 yuan/ton, with little change in weekly average price compared to last week. The price fluctuation range is slightly lower than the predicted operating range last week (5540-5680 yuan/ton).
The PVC powder market price fluctuated narrowly this week, with little change in price focus compared to last week. There was no significant change in the fundamentals of PVC resin during the week, and there were not many new maintenance devices added on the supply side. The industry's operating load rate may have slightly increased compared to last week, and domestic demand was weak. There was no increase in exports, so there was no significant driving force for the fundamentals this week. On a macro level, the news that the issuance of special bond projects is expected to accelerate in 2024 has provided some temporary support for the commodity atmosphere. This week, PVC resin mainly fluctuated slightly with the atmosphere of bulk commodities, especially black commodities.
The fundamental changes are not significant, and there is currently no significant driving force
This week, only one new maintenance enterprise was added to the PVC powder industry in Nangang, Ili. Some of the early maintenance equipment will gradually resume this week, so the operating load rate of the pvc resin powder industry may slightly increase this week; In terms of demand, domestic demand is still weak, with downstream restocking mainly on dips and export orders being lukewarm. So with the support of maintenance, the fundamentals are still expected to improve slightly, but social inventory is still at a high level, and the pressure on the spot market still exists.
Macro changes are not significant, PVC resin follows fluctuations in the atmosphere of bulk commodities
The National Development and Reform Commission recently collaborated with the Ministry of Finance to complete the screening work for the 2024 local government special bond project. Experts believe that the subsequent acceleration of the issuance of special bonds will promote the formation of more physical workload for the project. The news about special bonds provides slight support for the market. In addition, black products have experienced relatively large fluctuations this week, with PVC powder adjusting accordingly.
Next week, there will be limited changes in the fundamentals of PVC powder, and the atmosphere of black products will be stronger. It is expected that the PVC powder market will continue to fluctuate, and the price center may shift slightly upwards.
In terms of supply: There are not many planned maintenance companies next week, and some of the companies under inspection will gradually resume operation. It is expected that the loss of maintenance next week may decrease, and the industry's operating load rate may slightly increase.
In terms of demand: Domestic demand performance is average, and downstream stocking enthusiasm is not high before the May Day holiday. Some pipe profile product companies have a May Day holiday of 3-5 days, and some have slightly longer holidays; In terms of exports, although domestic production enterprises currently have a significant advantage in export prices compared to other sources of goods, the enthusiasm of foreign customers for inquiries is average, and it is expected that domestic exports will maintain a basic order volume in the short term, making it difficult to have a significant increase in volume.
In terms of cost: The short-term decline in calcium carbide prices is limited, and there is some support for the cost of PVC powder. The price of caustic soda has remained stable with some decline, and there is still some support for the integration cost.
Other aspects: Macro news is calm, short-term support is average, and long-term bullish expectations still exist; At present, the atmosphere of black products is still strong, or there may be some atmosphere support for PVC resin.
Overall, due to the impact of the holiday next Friday, some downstream product companies will have a holiday, and the social inventory of PVC resin may increase on a regular basis. The pressure on spot goods still exists; But black products have a strong atmosphere, which may provide some support for PVC powder. However, overall, there is currently no significant unilateral driving force in the PVC powder market. It is expected that the PVC resin market price will continue to fluctuate in the next week, and the price center may shift slightly upwards.
