International Energy Agency downgrades global demand forecastpacmanarcademachineforsale, U.S. crude oil inventories fell more than expected, and international oil prices rebounded. The domestic PVC powder market fluctuated and rose, the price center of gravity shifted slightly, downstream procurement enthusiasm was not good, and market transactions were weak. In May, construction on upstream PVC increased, and demand improved month-on-month, but inventories were still high and market expectations were weak. It is recommended to take more orders to stop profits, wait for prices to fall and continue to go long on dips, and pay attention to risk factors such as inventory accumulation and macro sentiment changes.
The International Energy Agency cuts global demand forecast, U.S. crude oil inventories fall more than expected, and international oil prices rebound
This week, the International Energy Agency lowered its forecast for global crude oil demand, while U.S. crude oil inventories fell more than market expectations, which helped push the rebound in international oil prices. At the same time, the spot price of PVC powder in the domestic market also fluctuated and rose, and the price center of gravity shifted slightly. As of May 16, the average weekly price of domestic calcium carbide PVC powder SG-5 was 5675 yuan/ton, an increase of 18 yuan/ton from the previous period, an increase of 0.pacmanarcademachineforsale.32%, but the increase narrowed compared with the previous period. Despite this, downstream procurement enthusiasm is not high, and market transactions are still weak.
From the core logic point of view, the operating rate of PVC upstream increased to 78.32% in May, showing growth on the supply side of the market. The demand side has improved month-on-month, and the downstream operating rate has reached 81%. However, social stocks of PVC are still high year-on-year. Although there has been some removal from warehouses on the month-on-month basis, they still remain at a high level of 547,500 tons. Overall, the PVC market is currently mainly following the fluctuations of the chemical sector, but due to excessive market expectations for PVC, the overall trend is still weak.
In terms of strategic suggestions, the current market recommends taking more orders to stop profits and waiting for prices to fall before continuing to bargain hunting. It should be noted that inventory accumulation and changes in macro sentiment may have an impact on the market.
Overall, although the market has high expectations for PVC, the actual trend is still weak. Investors need to pay attention to changes in inventories and macro sentiment, and make corresponding investment decisions based on market conditions.
