1、 Price trend
According to the monitoring of the commodity market analysis system of Shengyi Society, this week (3.24-28), the PVC spot market reversed its decline and prices rebounded slightly. As of Friday, the average price of SG-5 PVC carbide method in China was 4930 yuan/ton, an increase of 0.74% during the week.

2、 Market analysis
Supply side: The PVC spot market atmosphere has improved this week, reversing the decline in the first half of the year. Driven by the futures market, the spot market has significantly improved and prices have rebounded. The market performance has improved in terms of supply and demand, and the PVC operating rate has remained stable this week. Although some companies have taken actions to reduce their negative load in the early stage, the operating rate has slightly increased, but the market transaction volume has significantly improved. This is mainly based on the increase in trading volume and the improvement of market sentiment.
In terms of inventory, there has been a temporary increase in transaction volume in the market recently, and social inventory continues to decrease. However, considering the previously large basic inventory, the current spot supply side remains abundant.
On the cost side: The price of calcium carbide in the market remained stable this week, and the market entered a bottoming stage. According to the monitoring of Business Society, the price fluctuation of calcium carbide has been zero since March. Although there is no positive news on the cost side, the increase in downstream procurement volume has a certain stimulating effect, and the upstream and downstream linkage has led to a rebound trend in PVC prices. As of now, the quotation range for PVC SG5 electric aggregate in China is mostly around 4900-4950 yuan/ton.
3、 Future forecast
The PVC analyst from Shengyi Society believes that PVC supply is relatively abundant in the short term, and the operating rate of manufacturers this week is generally higher than at the beginning of the month. Although enterprise inventory continues to decrease, the process is slow. The rebound of short-term futures market is mainly due to the improvement of market sentiment, and the lack of sustained improvement momentum in PVC fundamentals. As downstream procurement returns to rationality, the positive support effect is not significant. We should be cautious about the magnitude of the increase.