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[PVC Morning Update] Overall, The PVC Spot Market Remains Under Pressure

Longzhong 2025-10-29 08:56:10

I. Points of Attention

1 On October 28, [Longzhong] Market attention is focused on OPEC+'s continued production increase plan, coupled with a still poor demand outlook, leading to a decline in international oil prices. NYMEX crude oil futures for December contract dropped by $1.16 to $60.15 per barrel, a decrease of 1.89%; ICE Brent crude futures for December contract fell by $1.22 to $64.40 per barrel, a decrease of 1.86%. China's INE crude oil futures for the 2512 contract fell by 2.0 to 466.4 yuan per barrel, and in the night session dropped by 8.3 to 458.1 yuan per barrel.

2 Yesterday, the domestic calcium carbide market remained stable, with the mainstream trade price in the Wuhai region stable at 2500 yuan/ton. The impact of orderly electricity usage in Inner Mongolia has weakened, and some maintenance facilities have resumed supply, leading to a significant increase in the sales volume of commercial calcium carbide. Some companies have accumulated inventory. To expedite shipments, some companies have been flexible in transactions, but demand continues to be on a growth trend, intensifying the supply-demand game in the calcium carbide market. It is expected that the market will remain stable and mainly in a wait-and-see mode today.

3 PVC: Yesterday, the domestic PVC spot market prices remained fluctuating within a range, with continued light trading. There is no significant improvement in the basic supply and demand situation for PVC, and the spot market is mainly stagnant and stable. The atmosphere for terminal procurement is not good, and the market is primarily focused on seeking lower transactions. As of October 28th, the carbide method in East China for type five cash is at 4570-4680 yuan/ton, and the ethylene method is at 4700-4900 yuan/ton.

Section 2: Price List

Product

Region

10-28

10-27

Rate of Increase/Decrease

PVC

East China Market

4670

0.00%

Remarks:

1 PVC price using calcium carbide method SG-5 premium grade

2 This list price is the tax-inclusive price for foreign exchange warehouse pickup, in units of yuan per ton.

3 The prices for the two periods are the point-in-time prices from the previous two work weeks before this week, not the weekly average prices.

4 "The rise and fall rate is the month-on-month change rate."

3. Market Outlook

PVC From a fundamental perspective, as the scale of maintenance decreases, supply-side pressure increases, while demand remains stable, intensifying supply-demand pressure. The cost of the ethylene process has decreased, while the cost of the calcium carbide process remains firm, leading to intensified competition in the ethylene-calcium carbide market. Overall, the PVC spot market continues to operate under pressure, with the Huadong SG-5 cash on delivery price ranging from 4,550 to 4,680 RMB/ton.

4. Data Calendar

Data	Release Date	Current Data	Next Trend Forecast
PVC Capacity Utilization Rate	Thursday 5:00 PM	76.57%	↗
PVC Social inventory	Thursday 5:00 PM	103.52 Ton (new sample)	↗
1 Consider significant fluctuations as large movements, highlighting data dimensions with changes exceeding 3%. 2 Considered as narrow fluctuations, highlighting data with a rise and fall range within 0-3%.

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[PVC Morning Update] Overall, The PVC Spot Market Remains Under Pressure

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