Inventory Declined on Deficient Supply and Rigid Demand
The PVC futures prices fluctuated violently, while its spot prices fluctuated narrowly. Downstream enterprises maintained basic purchases, and the social inventory of PVC was on a downtrend.
As of May 21, PVC inventory at sample warehouses in East China was 148.6kt, down 8.44% W-O-W and down 44.47% Y-O-Y. PVC inventory at sample warehouses in South China was 37.9kt, down 16.34% W-O-W and down 60.02% Y-O-Y. That in East China and South China totaled 186.5kt, down 10.16% W-O-W and down 49.24% Y-O-Y.
The overall operating rate at PVC producers declined sharply this week, as many enterprises took an overhaul, such as Xinjiang Yihua Chemical, Xinjiang Shengxiong Chemical, Xinjiang Tianye, Taizhou Union Chemical Industry, Inner Mongolia Yidong Group Dongxing Chemical and Shandong Taishan Salt Chemical. Qinghai Salt Lake Magnesium Industry and Anhui Huasu enhanced operating rates.
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