In July, the domestic PVC market generally trended downwards, with prices continuing to decline. The benchmark price for SG-5 PVC in East China was 5686 yuan/ton, a 3.41% decrease compared to the previous month. The core issue causing the PVC market to fall back into a downward trend this month is the unresolved imbalance between supply and demand, with oversupply continuing to dominate market trends.

In May 2024, the domestic PVC market showed a continuous upward trend, with prices steadily rising. The benchmark price for SG-5 PVC in East China was 5856 yuan/ton, a 4.65% increase compared to the previous month. The core drivers of this price increase were marginal improvement in fundamentals, a recovery in market sentiment driven by favorable macroeconomic policies, and support from low PVC valuations and limited downside potential. Especially after mid-May, PVC prices surged, but downstream enterprises showed low acceptance of high-priced goods, leading to a stalemate in market transactions.