1.
Market Price
2. Market
Review
China’s
PVC powder prices fluctuated downward this week. The weekly average price of
calcium carbide-based PVC powder was RMB 4,721/mt, down RMB 63/mt or 1.32% WoW.
First,
crude oil prices fell notably during the holiday, weighing on the commodity
market. Second, the persistent oversupply continued to dent the PVC market,
with the medium-to-long-term bearish outlook further reinforced by the
impending commissioning of new units at Wanhua Chemical (Fujian) and Tianjin
Bohua Chemical Development. In addition, on May 7, a couple of financial
policies to stabilize the market were announced, but the bullish effect quickly
faded as most policies either within expectations or had already been digested,
so the market price fell after a brief rebound.
3. Market
Forecast
SCI
predicts that China’s PVC powder prices will possibly inch down next week, with
the price range of RMB 4,580-4,750/mt. China’s PVC powder market may lack
sufficient fundamental support. As for the macro market, it may mainly focus on
the implementation of existing policies with limited short-term stimulus
measures expected.