According to the data monitored by toodudu (the average ex-factory price of calcium carbide SG5), the average price of domestic mainstream PVC on October 27 was 7,050 RMB/ ton, up 0.36% compared with the previous day, 5.62% on a month on month basis, and 5.94% higher than the same period last year. Market Analysis PVC market rose steadily on Tuesday and the market picked up. After consolidation last week, the PVC market rebounded this week, and the spot market continued to rise due to the rebound of futures. On October 27, some enterprises raised the range of 50-100 RMB/ ton, and most of the quotations were stable, and the prices were generally around 7,000 RMB/ ton. Generally speaking, the market is fair, supply is tight, raw materials price is rising, futures rebounds, social inventory continues to decline, China PVC is easy to rise but difficult to fall, the overall market mentality is good. In terms of spot goods, domestic PVC5 type tourmaline’s mainstream quotation range is...

Latest price (December 2): 9,050 RMB/ ton According to the data monitoring of toodudu, on December 2, the main PVC contract 2201 closed at 8332 RMB/ tons, down 3.64%, and the spot market price fell by 0.66% compared with the previous day. At present, the mainstream price is 8800-9300 RMB/ tons, and the offer of cargo holders continues to decline. The market transaction atmosphere is general, the demand in the off-season is weakened, the enterprises are active in shipping, and the sales pressure is large, but the raw material price has not fluctuated greatly recently, Cost support is still existing. China PVC is expected to continue the trend of shock and decline in the short term   If you have any questions, please feel free to contact toodudu with tdd-global@toodudu.com.

Chemplast Sanmar’s (Chemplast) weak print for Q2FY23 was anticipated in view of falling PVC prices and inventory write-downs. The company said PVC prices continue to slide in Q3FY23 too, and recovery is likely only from Q4FY23. Underlying S-PVC contribution margin was at US$180/te, which means PVC price stability should help improve EBITDA. Surprise came from the less talked-about segment of custom manufacturing wherein the management has increased its revenue growth guidance to 30% (earlier: 15%), and has secured a letter of intent to supply advance intermediate for a novel active ingredient. It expects to increase capex for custom manufacturing for both phases-1&2 (earlier capex plan: Rs3.6bn). Chemplast Sanmar has a strong product pipeline, which will help drive growth. S-PVC expansion plan seems blurred with challenges in securing a reliable supplier for VCM, and significant capacity expansion plans by peers in India. Volume improves as price fall decelerate. Specialty v...