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PVC (V)

Polyvinyl chloride is the workhorse plastic of the global construction industry — pipes, window frames, flooring, cable sheathing. China makes and uses roughly 40% of the world's PVC, and the Dalian V contract is its price discovery venue. For traders, PVC is where China's property cycle meets the coal-and-salt chemical chain, producing some of the most persistent macro trends on the exchange.

Contract Specifications

Specifications are reference values compiled from exchange publications. Margins and price limits adjust dynamically — the exchange's latest announcements prevail.

What Moves PVC

• China property construction cycle. PVC demand is disproportionately tied to new housing starts and infrastructure completion. Property policy shifts — mortgage rules, developer credit, stimulus — move V faster than almost any supply-side data.
• Coal-based vs ethylene-based cost curve. Roughly 80% of Chinese PVC is made from coal and salt (calcium carbide route), not oil. This makes V partly a coal-price proxy — a unique hedge profile versus oil-linked polymers.
• Carbide and electricity costs. The calcium carbide route is electricity-hungry. Power rationing in Inner Mongolia or Xinjiang has repeatedly shut capacity and produced vertical rallies in V.
• Export arbitrage to India. When domestic demand softens, Chinese PVC exporters turn to India and Southeast Asia. Export order flow and Indian anti-dumping policy create recurring demand-side storylines.
• Plastic ban regulations. Environmental policy on plastics affects long-run demand sentiment; single-use restrictions and recycled-PVC substitutes shape the multi-year narrative.

Why Traders Watch It

V trends are macro trends: the property cycle and coal complex dominate, so position sizing should respect policy-shock gaps. Daily price limits can lock the market during stimulus announcements. Liquidity is strong in active months and the night session gives decent crude-hours coverage. Because so much supply sits in remote western provinces, freight and power disruptions are recurring tail risks — watch regional plant utilization reports.

Trading V on XS Select

All XS Select evaluations include V and every other major Chinese commodity contract, on real Wenhua Finance market data with institutional liquidity. Commission is 2x the exchange standard (open and close) — replicating professional conditions.