On February 9, Shandong Xinfeng's PVC plant operated at full capacity. The ex-factory price for calcium carbide-based SG-5 PVC was quoted at 4,750 yuan/ton today, with the manufacturer's total PVC production capacity reaching 1.1 million tons. PriceSeek's analysis of PVC indicates a bearish score of -1. The report highlights that Shandong Xinfeng's PVC plant is running at full capacity, with an ex-factory price of 4,750 yuan/ton and a total production capacity of 1.1 million tons. Full capacity operation suggests that supply-side production capacity is fully utilized, leading to an increase in market supply, which may result in a looser supply-demand balance and exert downward pressure on spot PVC prices. Given the manufacturer's large-scale production capacity, the expectation of increased supply is further reinforced, making bearish factors more pronounced. Therefore, a general bearish score is assigned, indicating that spot prices may face short-term downward risks.