1. Focus Points
1. Crude Oil: On 3/3, concerns over the U.S. imposing additional tariffs, which could drag down the global economy and demand, along with uncertainty about whether OPEC+ will delay its production increase plan, led to a decline in international oil prices. The NYMEX crude oil futures contract for April fell by $1.39 per barrel to $68.37, a decrease of -1.99% month-over-month; the ICE Brent oil futures contract for May (after the contract rollover) fell by $1.19 per barrel to $71.62, a decrease of -1.63% month-over-month. The main contract of China's INE crude oil futures, 2504, fell by 3.3 to 539.2 yuan per barrel, and during the night session, it further dropped by 12.7 to 526.5 yuan per barrel.
2. PVC: The price of calcium carbide, an upstream raw material for PVC, continued to rise, while the price of ethylene, another raw material, remained firm. Strong cost support, combined with a positive macroeconomic outlook, resulted in fluctuating increases in the intraday prices of petrochemicals and other commodities. PVC spot quotations were firm and optimistic, with general increases in intraday prices. In the East China region, the ex-warehouse cash price for calcium carbide-based SG-5 grade was between 4950-5080 yuan per ton, and for ethylene-based grades, it ranged from 5100-5400 yuan per ton.
2. Price List
Unit: yuan/ton
3. Market Outlook
The recycled PVC market is experiencing a stalemate, with downstream buyers purchasing according to their needs. The release of market demand has been slow, and the atmosphere for inquiries and purchases from downstream buyers is lackluster, maintaining only small-scale, essential orders. There are few orders within the market, and recycling companies are adjusting their production flexibly, with actual transactions mainly through negotiations. It is expected that in the short term, the recycled PVC market may remain stable with slight adjustments, and close attention should be paid to the supply and demand conditions of the upstream and downstream markets.
