One, Focus Areas

1. On March 27, the United States extended sanctions on some oil-producing countries, raising market concerns about potential supply risks, leading to an increase in international oil prices. NYMEXCrude oil futuresThe May contract rose by $0.27 to $69.92 per barrel, a month-on-month increase of 0.39%; ICE Brent crude futures for May rose by $0.24 to $74.03 per barrel, a month-on-month increase of 0.33%. China's INE crude oil futures main contract 2505 rose by 4.0 to 543.4 yuan per barrel, and fell by 0.4 to 543 yuan per barrel in the night session.

2. Calcium carbide: This week in the domestic market.Acetylene marketSupply has significantly increased, with the impact of power rationing weakening and production from maintenance shutdowns gradually recovering. There is a notable increase in supply. In Sichuan region, PVC maintenance has been implemented, leading to a decrease in regional demand. Currently, the number of trucks waiting to unload is low, but with the recovery of supply, various regions are actively replenishing stocks. Next week, demand in Sichuan region is expected to recover somewhat, but there remains instability due to power rationing in terms of supply. It is anticipated that the calcium carbide market will remain stable and adjust next week, with regional performance becoming more pronounced.

3. PVC: Yesterday in the domestic market.PVC marketPrices remained stable. During the week, PVC fundamentals showed limited improvement. Supply remained high, domestic demand continued to be subdued, while export inquiries showed a slightly better atmosphere. Currently, raw material prices remain firm, with cost support holding steady. Amid the supply-demand standoff, market prices appear somewhat stagnant. As of March 27, the spot price range for calcium carbide method PVC (Type 5) in East China was 4,900–5,050 yuan/ton, while the ethylene method PVC ranged from 5,000–5,200 yuan/ton.

2. Price List

III. Market Outlook

Recently, the improvement of the PVC supply and demand fundamentals has been lackluster. On the supply side, the maintenance efforts of upstream PVC enterprises have been limited in the short term. Although a larger number of companies are scheduled for maintenance in April, most of it is concentrated in the latter half of the month. Next week, facilities of Yibin Tianyuan, Qinzhou Huayi, and others are expected to resume operations, resulting in limited reduction in production. On the demand side, domestic demand remains subdued, and the overall growth potential for foreign trade exports is limited. The short-term PVC fundamentals lack sufficient momentum to push the market higher. It is expected that the domestic PVC market will remain in a stalemate, with limited fluctuation space both upwards and downwards.

IV. Data Calendar