Core Insights - PVC futures main contract closed at 4888 CNY/ton, with a weekly decline of 0.29% and a reduction in open interest by 18,540 contracts [1] - Production losses from PVC manufacturers amounted to 61,400 tons, a decrease of 23,900 tons from the previous period [2] - Social inventory of PVC increased by 1.84% to 971,300 tons, with a year-on-year increase of 16.23% [2] Group 1: Market Performance - PVC futures opened at 4894 CNY/ton, reaching a high of 4909 CNY/ton and a low of 4874 CNY/ton during the week [1] - The average profit margin for calcium carbide-based PVC producers was -785 CNY/ton, indicating an increase in losses by 137 CNY/ton [2] - The average profit margin for ethylene-based PVC producers was -650 CNY/ton, with a slight profit increase of 5 CNY/ton [2] Group 2: Industry Dynamics - Six departments jointly released a plan to stabilize growth in the building materials industry, but no actual policies have been implemented for the PVC sector yet [3] - The overall supply-demand balance remains weak, with domestic supply being strong and demand weak, leading to a bearish outlook for PVC prices [3] - Export expectations are weakening due to the confirmed anti-dumping tax rate in India, despite a slight recovery in domestic downstream operations [3]
供给过剩格局仍然难以改变 预计PVC期货承压下行
Jin Tou Wang·2025-09-28 06:10