1. Focus Points

1. [Longzhong] 3/4: The U.S. tariff hike policy has sparked potential trade dispute risks, coupled with OPEC+ planning a slight production increase from April, leading to a decline in international oil prices. NYMEX crude oil futures for April fell by $0.11 to $68.26 per barrel, down -0.16% month-over-month; ICE Brent crude oil futures for May fell by $0.58 to $71.04 per barrel, down -0.81% month-over-month. China's INE crude oil futures main contract 2504 fell by 7.7 to 531.5 yuan per barrel, and the night session fell by 12.7 to 518.8 yuan per barrel.

2. Calcium Carbide: Yesterday, the domestic calcium carbide market remained stable at 2,550 yuan per ton, with smooth sales from producers. As road transportation pressures ease, there is a regional concentration of arrivals. Today, it is expected that power restrictions will reoccur in the Inner Mongolia region, weakening supply. Currently, there is a shortage of regional arrivals downstream, and purchasing activity is active, creating a strong atmosphere for regional price increases.

3. PVC: Yesterday, the domestic PVC market price center slightly declined. The U.S. tariff hike has intensified the wait-and-see attitude towards bulk commodity exports, leading to weak and volatile prices during the trading session, dampening market trading sentiment, and causing a slight decrease in prices in the afternoon. In the short term, there are insufficient new maintenance shutdowns, and demand remains stable. As of March 4, the spot cash warehouse withdrawal price for SG-5 type (calcium carbide method) in the East China region is between 4,900-5,050 yuan per ton, while the ethylene method is between 5,100-5,400 yuan per ton.

2. Price Table

3. Market Outlook

In the short term, there are few PVC companies undergoing maintenance, and production is expected to increase within the week. Downstream operations are gradually returning to normal levels, with an increase in rigid demand purchases. Although cost support exists, the market's wait-and-see attitude has been strengthened due to fluctuations in external macro expectations, leading to a lack of confidence in the future. It is expected that today's domestic PVC market prices will slightly decrease.