PVC：均线支撑位盘面反弹 基本面暂无波动

PVC Market Overview - The domestic PVC powder market price has increased, with futures showing volatility in the morning and rising in the afternoon. However, the actual trading volume remains weak due to poor purchasing enthusiasm from downstream buyers [1] - The mainstream cash prices for PVC in different regions are as follows: East China at 4830-4940 RMB/ton, South China at 4860-4950 RMB/ton, Hebei at 4710-4820 RMB/ton, and Shandong at 4810-4870 RMB/ton [1] PVC Production and Inventory - The overall operating rate for PVC powder this week is 73.26%, a decrease of 2.55 percentage points week-on-week. The operating rate for calcium carbide method PVC is 74.42%, down 4.79 percentage points, while the ethylene method PVC operating rate is 70.24%, up 3.29 percentage points [2] - As of July 31, the inventory days for PVC production enterprises in China is 5.8 days, a decrease of 3.33% week-on-week, attributed to maintenance and reduced production due to uncontrollable factors [2] PVC Price Outlook - The market has rebounded after hitting the 60-day moving average support level, leading to an increase in spot prices. However, the fundamental outlook suggests continued pressure on PVC prices due to increasing inventory and limited demand improvement [3] - New production capacities are expected to come online in August, including from Fujian Wanhua and Tianjin Bohua, which will add pressure to the PVC supply side. Downstream production rates remain low, and purchasing enthusiasm is weak, indicating a continued weak market [3] - Overall, supply and demand pressures are significant, and PVC prices are likely to continue to decline, with the price focus potentially moving lower [3]