[Regenerated PVC Morning Brief] The price of regenerated PVC is generally stable, with some minor declines.

I. Key Focus

1. Crude Oil: 3/3: Concerns over the US imposing additional tariffs, which may drag down the global economy and demand, coupled with uncertainty about whether OPEC+ will postpone its production increase plan, led to a decline in international oil prices. The NYMEX crude oil futures 04 contract fell by $1.39 per barrel to $68.37, a decrease of -1.99% compared to the previous period; the ICE Brent crude oil futures 05 contract (after the month change) fell by $1.19 per barrel to $71.62, a decrease of -1.63%. 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 remained firm, providing strong cost support. Coupled with improved macroeconomic expectations, petrochemicals and other major commodities saw their prices fluctuate upwards. PVC spot quotations were firm and optimistic, with widespread increases in trading prices. In the East China region, the cash-on-delivery warehouse price for calcium carbide-based type V ranged from 4950-5080 yuan per ton, while for ethylene-based, it was 5100-5400 yuan per ton.

II. Price List

III. Market Outlook

The market price of recycled PVC is generally stable, with some minor declines. There is a lack of buying interest, and downstream demand is being released slowly, with purchases mainly consisting of small, essential orders. The support within the market is limited, and recycling companies are adjusting their output according to the market conditions. It is expected that in the short term, the recycled PVC market will remain stable or consolidate, with transactions based on actual negotiations. Close attention should be paid to the supply and demand situation of both upstream and downstream sectors.