PVC Prices Surging with International Units Partly Shut Down
After the holiday, prices of many bulk commodities rose greatly, so did PVC futures prices and spot prices. The prices of PVC May contract increased to RMB 8,000/mt and renewed a high. Spot prices of SG-5 in East China hovered at RMB 8,400/mt, and this rose by 9.8% compared with pre-holiday prices. International PVC prices trended upwards as some units were shut down due to force majeure, which also buoyed China’s PVC prices.
Recently, the U.S. was hit by extremely cold weather. The temperature in many places hit a new low in recent years, and the disaster in Texas the most serious. The snowstorm swept the U.S., and Texas’s local temperature once fell to minus 2 degrees Fahrenheit (-19 degrees Celsius). The snowstorm attack led to a power outage crisis in many places. Due to power outages and frozen units, various industries, such as PVC industry, have been greatly affected.
