The hottest PVC dollar quotation is in danger

2022-08-24
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PVC dollar quotation is in danger

we have adhered to the foreign PVC dollar quotation for two months, and have not continued to act as the patron saint of China's PVC market because of the stable slight rise in market prices and increased transactions in southern China in the past two days

due to the export reduction of B0 for up to two months, others are empty talk The PVC industry in Japan, South Korea and Taiwan has been greatly affected, and the output has also been greatly reduced. However, when the main grating and the instigation grating move relatively, it is more unrealistic for PVC to be exported to Southeast Asia or the Middle East and other ocean going countries, except that the south of the Chinese market is still vibrant in the weak international economic environment. However, the reality of China's PVC market cruelly told them that no matter how hard it is, it will only be "empty with a bamboo basket". Having missed the Chinese market in November, the situation may get out of hand again in December or at the beginning of next year. Rather than struggling, it's better to see the stitches and make a comeback

from November 7 to 8, South Korea LG Chemical explored the South China market again and lowered the defense line adhering to the US dollar again. According to feasible news, the head of LG Chemical headquarters is currently negotiating with a domestic company for a ton of PVC resin. The price may be as low as US dollars/t for the shipment date in November, while the firm offer price that can be confirmed this week is US $415/t, with forward payment

due to the reduction of production, Hanhua's export volume in November was more than 3000 tons, and there is also a quotation for the time being

Japan has also shown signs of loosening due to the repeated reduction of VCM prices and the huge pressure on inventories. Some direct sales export orders have been traded in US dollars/t. At present, the more unstable factor that restricts the quotation of PVC dollars is Sino ocean PVC. Due to the recent import in South China and although the control method is relatively simple, the inventory is small, and the RMB price has stabilized at yuan/t in these two days, many importers are also planning for the market in December and next year. Therefore, after Sino ocean PVC quoted a large amount of $400 with forward payment from November 7 to 8, it has also attracted the attention of many peers. Taiwan PVC can't stand loneliness, and the transaction price of Dayang 101 and Formosa Plastics S-65, S-60, S-70 PVC will also be reduced to USD/t

there are also external reasons for foreign PVC exporters' eagerness to prepare for transactions in the past two days. International oil fell again, and another record low will appear at any time. Ethylene, propylene, naphtha and styrene in the international market continued to decline this week. VCM is the most critical factor that restricts the price of PVC. In recent days, the export price of VCM in Asia to China will fall again and again with the boycott of import buyers of Chinese PVC enterprises. The lowest transaction price last week was $310/t, but at present, this price has been difficult to be accepted by Chinese buyers. Therefore, the crux of the future market is what the final transaction price of VCM can be in November

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