Bearish outlook in China's domestic PVC market

摘要

After following a mostly steady trend in June, domestic PVC prices started the month of July with price decreases, as per Chemorbis. Ethylene and acetylene based PVC prices decreased by CNY140-150/ton (US$21-22/ ton) on average in the first week of the month, according to ChemOrbis Price Index. This week both markets have witnessed additional declines of CNY100-200/ton (US$15-30/ton; Depressed demand is the main factor behind the consecutive price decreases, with both regional producers and resellers conceding to price decreases in an attempt to promote their sales. The poor state of demand has forced many producers to trim operating rates as they face obstacles in coping with their mounting inventory pressure.