Enterprises have successively reduced production PVC main force to test the low recovery

News: PVC social inventory increased by 24.
24% month-on-month last week, down 26.
13% year-on-year, in East China, it increased by 18.
97% month-on-month and decreased by 15.
85% year-on-year, and South China increased by 62.
50% month-on-month and decreased by 55.
17%
year-on-year.
East China stocks are 69,000 tons, South China 13,000 tons
.

The operating rate of PVC production enterprises was 80.
95% last week, up 0.
05% from last week and 0.
4% from last year; Among them, the calcium carbide method was 82.
33%, up 1.
02% month-on-month and 1.
94% higher year-on-year, and the ethylene method was 81.
40%, down 3.
98% month-on-month and 6.
47%
year-on-year.

In November 2019, China's PVC export volume was 37,900 tons, and in November 2019, China's PVC export volume was 2.
9 tons
.
A decrease of 23.
48% month-on-month and a year-on-year decrease of 9.
4%, the supply of domestic sources was tight in November, and the price of the domestic market was high.

Spot market: the price of PVC market in Fujian is stable, the mainstream of calcium carbide 5 type material is 7300-7360 yuan / ton for cash withdrawal, sea level / Xinfa / Tianhu 7330 yuan / ton, Haijing 1000 type / Junzheng / Yili 7360 yuan / ton, Hengtong 1000 type 7350 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts report 0 lots, intraday -0 lots
.
Main position: The top 20 long positions in the main contract are 170464 lots, +4892 lots, short positions are 164762 lots, +5468 lots, and the net position is 5702 lots, a net long decrease
.

Summary: Affected by environmental protection, the start of upstream production enterprises has decreased slightly; Due to the pre-sale of more deliveries in the market, the spot volume of various merchants remained tight; Downstream maintenance just need to purchase
.
Far futures source procurement is not active, and the psychology of high price resistance is enhanced
.
At 80.
90%, an increase of 2.
84% from last week and 0.
95% lower than last year; PVC social inventory last week decreased by 8.
33% month-on-month and 41.
07%
year-on-year.
The domestic calcium carbide market stopped falling and stabilized, the market supply was in the stage of gradual consumption, and the downstream purchasing manufacturers increased their demand with the end of maintenance and the increase of load
.
Moreover, there was a serious smog weather in the north of China, and orange warnings for heavy pollution weather were issued in many places, and production enterprises successively reduced production
.
In terms of operation, it is recommended that investors can settle their hands on high orders and drop their bags
.