PVC, or polyvinyl chloride, is a commonly used thermoplastic polymer. Forecasting its prices requires an understanding of various factors that drive its market dynamics.
Some examples are the cost of raw materials, like ethylene and chlorine, the demand for PVC products or supply disruptions, and fluctuations in oil and natural gas prices.
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PVC is derived from petrochemicals, and its production heavily relies on the availability and cost of crude oil and its derivatives. West Texas Intermediate (WTI) is one of the most widely used benchmarks for crude oil prices in the United States. Changes in WTI crude oil prices can significantly impact the cost of PVC production, as it is an essential raw material in the process.
Futures contracts, such as the DCE (Dalian Commodity Exchange) PVC Continuous contract in China, are actively traded financial instruments that reflect market participants' expectations of future PVC prices. These contracts are based on the supply and demand dynamics in the PVC market, incorporating factors like production, consumption, and external influences.
This variable provides a direct and specific price point for PVC in the form of cost and freight (C&F) rates from Far East Asia to the United States, denominated in U.S. dollars per metric tonne. As such, it represents the actual market price of PVC in a particular trade route, making it an immediate reference for PVC pricing.
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