How long will the rebound of PVC paste resin last at the end of November

November 30, 2023

At the end of November, the price of PVC Paste Resin began to rebound slightly. Shenyang Chemical temporarily stopped for maintenance, and the market hyped up slightly, affecting the overall production. However, manufacturers had inventory and shipping issues, and Shandong Langhui started production by 70%. In addition, Jining Bank of China stopped production in the early stage, and Xinjiang Zhongtai did not start production enough, resulting in a decrease in PVC paste Resin production in November compared to October. The decrease in supply, coupled with the fact that the market has been going down for a long time, has released the feeling that it cannot rise. The seed lotion method began to rebound slightly, driving the market's bullish mood.

In terms of raw materials, the price of calcium carbide fluctuated in the range of 2700-2800 yuan/ton in November, mainly affected by the supply-demand relationship. As supply weakens in central, southwestern, and Ningxia regions due to cost pressures and planned maintenance. In mid month, the Southwest and Central China regions increased their procurement volume from the Northwest region, accelerating the consumption of market inventory. And the maintenance of the equipment has been gradually restored, PVC enterprises that export calcium carbide have increased their production, demand has increased, the market has reached a golden balance, and the price of calcium carbide has bottomed out and rebounded. In the second half of November, the mainstream ex factory trade price in Wuhai remained stable at 2800 yuan/ton. The price of vinyl chloride in Asia ranges from $600 to $610 per ton CFR Far East, and the production cost of vinyl chloride is approximately $620 per ton. Due to the decline in the Chinese PVC market, the price is weak and consolidating. The mainstream enterprises of vinyl chloride in East China offer a price range of 5050-5150 yuan/ton for factory acceptance and self pickup, with actual orders negotiated.

However, overall, the downward trend in the PVC paste resin market price in November is still the main trend, mainly due to the lack of substantial improvement in the demand side, with the market mainly focusing on just in demand procurement. Overall, manufacturers are operating normally this month, but the market is still showing a situation of oversupply. There are currently no maintenance companies in December, and market consumption is mainly based on basic needs. If production companies produce at full capacity, their inventory will continue to increase. At present, domestic prices are relatively low, and there will not be significant changes in import and export data. The fluctuation range of raw material calcium carbide and VCM prices is limited. Overall, it is expected that the market prices will remain stable and loosen next month.

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Ms. Yolanda

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