PVC：供需矛盾突出 采购价格下行

PVC Market Overview - The domestic PVC powder market prices have decreased, with most mainstream markets dropping by 15-65 yuan/ton [1] - PVC futures are experiencing weak fluctuations, and the spot market has seen slight price adjustments with limited high-price transactions [1] - Downstream purchasing enthusiasm is low, leading to average transaction volumes in the spot market [1] PVC Production and Inventory - According to Zhuochuang Information, the overall PVC powder operating rate is 76.12%, a decrease of 2.27 percentage points from the previous week [1] - The operating rate for calcium carbide method PVC powder is 77.01%, down by 2.12 percentage points, while the ethylene method is at 74.06%, down by 2.61 percentage points [1] - As of December 18, the inventory days for PVC production enterprises in China is 5.3 days, a decrease of 2.75% due to reduced market supply and increased pre-sale deliveries [1] PVC Market Outlook - The market is expected to maintain a range-bound operation due to cautious demand and low purchasing enthusiasm [1] - The demand side remains under pressure, with seasonal declines in construction activities and reduced real estate demand negatively impacting the market [1] - Export demand, particularly from India, is limited, and international competition is fierce, leading to an overall weak demand environment for PVC [1]