In China the operating rate of PVC production enterprises rose this week to 73.26% , up 1.61% from last week and 8.62% lower year-on-year. Calcium carbide production rate was 75.18% , up 1.61% last month , 10.30% lower than last year, ethylene production rate was 64.26% , 1.59% higher than last week, 0.75% lower than last year.
For the spread of the disease from abroad, the failure of OPEC + to reach a production cut deal, and the collapse of crude oil have added to the panic. PVC production enterprises operating rate has risen, market supply is still increasing and PVC downstream products enterprises have begun to resume work. But the local government examination and approval is still strict, many places resume work slowly, PVC social inventory remains high, these factors all form a certain repression to the price of PVC. Operationally, investors can hold empty orders with caution.
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