PVC：现货采购积极性一般 盘面震荡趋弱

PVC Market Overview - The domestic PVC powder market prices are stable with slight declines, with mainstream market fluctuations between 0-10 yuan/ton, and low trading activity due to weak downstream purchasing enthusiasm [1] - The current prices for 5-type calcium carbide PVC are reported as follows: East China at 4670-4790 yuan/ton, South China at 4760-4830 yuan/ton, Hebei at 4540-4640 yuan/ton, and Shandong at 4650-4730 yuan/ton [1] PVC Production and Inventory - The overall operating load rate for PVC powder this week is 76.11%, an increase of 0.68 percentage points week-on-week; the calcium carbide method operates at 76.97% (up 0.06 percentage points), while the ethylene method operates at 74.12% (up 2.12 percentage points) [2] - As of September 25, the inventory days for PVC production enterprises have increased by 2.91% to 5.3 days, indicating a rise in factory inventory levels amid weak market demand [2] PVC Market Outlook - As the holiday approaches, the PVC market is expected to experience narrow fluctuations, with supply-demand imbalances remaining challenging to resolve in Q3, leading to a general weakening of both futures and spot prices [3] - High production levels continue to create an oversupply situation, while demand has not shown significant improvement during the peak season, with a notable contraction in profile demand [3] - The upstream holding willingness is decreasing, but export activities are providing some relief from the oversupply pressure; cost support remains from rising calcium carbide prices and stable ethylene prices [3]