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Disturbed by market sentiment, PVC may face a correction in the short term

 Last Update: 2022-12-25
 Source: Internet
 Author: User

Tags

mono long term

adjustment

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As of August 4, crude oil prices soared and fell
overnight.
At present, the fundamentals of PVC itself have not changed much, mainly driven by macro sentiment and the overall disk
.
Combined with fundamentals, supply is still increasing, while downstream starts have not seen a significant improvement
.
Coupled with the off-season and the epidemic in various places, short-term PVC is likely to continue to maintain a surplus state
.

PVC

Futures market: as of August 4, the main force of PVC closed at 6665 yuan / ton (-0.
3%); Top 20 main long positions: 286216 (+11133), short positions: 301065 (+3393), net short positions: 14849 (-6003).

Spot: as of August 4, East China (calcium carbide method) quotation: 6730 yuan / ton (-50); South China (calcium carbide method) quotation: 6790 yuan / ton (-110).

Blue charcoal: As of August 4, Shaanxi 1246 yuan / ton (-72).

calcium carbide: as of 8.
4 days, North China 4470 yuan / ton (+45).

Opinion: The market is facing high inventory pressure and August is in the traditional low season, and terminal order improvement is expected to be limited
.
Although disturbed by market sentiment, short-term or face adjustment, in the current PVC fundamentals have not changed much, the upper and lower space are limited
.
Disturbed by market sentiment, short-term may face correction
.
Mainly
cautious wait-and-see.

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