China PVC: Costs Hold the Floor, Weak Demand Caps the Ceiling

China PVC prices moved higher in October. High carbide and coal costs, loss-making producers cutting runs, and falling stocks all pushed the price centre up. But the peak construction season did not deliver. Downstream orders stayed weak, so the upside is limited. The market is expected to stay in a high, range-bound band of RMB 4,900–5,100/t (USD 690–718/t). The three things to watch: raw material prices, producer operating rates, and end-user orders.