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Downstream stocking nears the end PVC shock closed higher

 Last Update: 2022-12-04
 Source: Internet
 Author: User

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The PVC1705 contract opened at 6430, with a high of 6480, a low of 6405, and closed at 6480, up 10 from the previous session, or 0.
15%
on the day.
The volume decreased to 123,100 lots, and the open position decreased by 1,092 lots to 132,300 lots
.

PVC

Raw material prices: 1, Japan naphtha CF Japan reported 512.
62 yuan / ton, up 4; Naphtha FOB Singapore was trading at $55.
91 a barrel, up 0.
37
.
Ethylene CFR Northeast Asia was flat at $1110/mt, and CFR Southeast Asia was flat at $1005/mt
.

Spot market: The price of some domestic PVC spot market is basically flat
.
North China calcium carbide law reported 6280 yuan / ton, up 60; ethylene law reported 6740 yuan / ton, flat; East China calcium carbide law reported 6400 yuan / ton, flat
.
South China calcium carbide method reported 6350, flat, ethylene method 6950 tons, flat
.
The price of raw materials was basically flat, with East China reporting 3,310 yuan, flat, and Northwest reporting 3,000 yuan, flat
.

News side: 1.
Shandong Xinfa PVC has been steadily raised, with a range of 20 yuan / ton
.
The calcium carbide method 5 type material was recently implemented at 6220 yuan / ton in cash withdrawal, the plant 600,000 tons / year equipment started normally, the enterprise had no inventory, and more orders
were delivered.

The Spring Festival is approaching, and the downstream stocking is nearing the end, but some enterprises do not have much inventory, and the price continues to rise or do not quote, but the downstream demand has entered a cold period, and the price increase space is expected to be limited, and the short-term maintenance range shock
.
Technically, the PP1705 contract closed down in volatility, the futures price tested the support around 6250 below, the pressure around 6600 was tested above, and the futures price or maintained in the 6250-6500 range oscillation, it is recommended to sell short at the high of the range
.

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