On January 28, Shandong Xinfeng's PVC plant increased its operating rate to full capacity. Today, the ex-factory price for calcium carbide-based SG-5 PVC is quoted at 4,600 yuan per ton, with the manufacturer's total PVC production capacity reaching 1.1 million tons. PriceSeek's analysis of PVC shows a bearish score of -1. The increase in Shandong Xinfeng's PVC plant operating rate to full capacity indicates a significant rise in supply, which may lead to an elevated risk of oversupply in the market, exerting downward pressure on spot PVC prices. Although today's ex-factory price of 4,600 yuan per ton provides a current benchmark, the release of production capacity dominates the bearish impact, and spot prices are expected to remain under pressure in the short term.