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Market trend: PVC1809 contract opened at 6685, the highest 6705 yuan / ton, the lowest 6575 yuan / ton, closed at 6630 yuan / ton, down 50 yuan, or 0.
75%, from the previous trading day, the trading volume was 285008 lots, and the position decreased by 2178 lots to 295130 lots
.
News: The National Development and Reform Commission recently issued a special "Notice on Matters Related to the Reduction of General Industrial and Commercial Electricity Prices", which said that it decided to implement price reduction measures in two batches, implement the target requirement of reducing general industrial and commercial electricity prices by an average of 10%, and further optimize the business environment
.
If the electricity price can reach the target of reducing by 10% in the year or in the long term, it will be a huge benefit for the chlor-alkali power consumption industry, and there will be a cost savings of about 5 cents per kWh for calcium carbide, and the direct cost reduction will reach 175 yuan / ton, while PVC will have a direct cost reduction
of 275 yuan / ton from the entire industry.
Upstream price: Japan naphtha CF Japan reported 617.
5 US dollars / ton, up 2.
11%; Naphtha FOB Singapore was trading at $68 a barrel, up 2.
04%.
ethylene CFR Northeast Asia 1360 US dollars / ton, flat; CFR Southeast Asia was flat at $1290/mt
.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reporting 3060 yuan, flat
.
Spot market: CFR China was flat at $940, CFR Southeast Asia was flat at $940; North China calcium carbide law reported 6530 yuan / ton, up 30 yuan; ethylene law reported 6770 yuan / ton, unchanged; East China calcium carbide method reported 6630 yuan / ton, up 50 yuan, ethylene method 6900 yuan / ton, unchanged; South China calcium carbide method 6650, up 100 yuan, ethylene method 6930 yuan, up 50 yuan
.
Today, the PVC1809 contract was driven downward by market panic and returned to the
finishing platform.
Fundamentally, the strong trend of crude oil will support the futures price, but factors such as high social inventory and slow storage reduction will suppress the futures price to a certain extent
.
Technically, and the MACD red bar becomes shorter, the KDJ indicator turns to the downside, indicating a slight advantage for the bears
.
In operation, investors can roll between 6530-6730, and interested investors can also try to buy PVC and sell PP arbitrage operations
.
