Fundamentals have not improved significantly PVC futures have rebounded weakly

Futures market: as of 9.
27, the main PVC closed at 6065 yuan / ton, down 0.
64% from the previous month; Top 20 main long positions: 399080 (+26505), short positions: 493261 (+42497), net short positions: 94181 (+15914).

Spot and enterprise dynamics: as of 9.
27, East China (calcium carbide method) quotation: 6200 yuan / ton (-100); South China (calcium carbide method) quotation: 6295 yuan / ton (-125); The 400,000-ton unit of Ningxia Jinyuyuan PVC new plant began maintenance on September 18 and is scheduled to start up
on September 28.
The intraday quotation was reduced by 50 yuan / ton, and the 5-type calcium carbide acceptance factory was 5950-6000 yuan / ton; Lutai Chemical's 360,000-ton PVC plant started about 60%, and the 5 type was not in stock, and the quotation was not made
for the time being.

Basis: As of 9.
27, South China basis +230; East China basis +135; basis slightly weakened
.
Upstream raw materials: as of 9.
27, the quotation of North China calcium carbide was 4060 yuan / ton, which was unchanged from the previous day's price; Shaanxi Lanchar quoted 1480 yuan / ton, no change
from the previous day's price.

Recently, PVC fundamentals have not seen significant improvement, and the macro side lacks positive news
.
The operation of PVC futures is mostly affected
by the overall market atmosphere and some spot low-price stocks before the holiday.
It is still limited by the "high inventory, low demand" situation
.
Under the current situation, it may be in a dilemma, and it is likely to be weakly sorted out
.