echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Lack of upward momentum PVC closed slightly higher

    Lack of upward momentum PVC closed slightly higher

    • Last Update: 2022-12-04
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    The PVC1705 contract opened at 6155, with a high of 6125, a low of 6105, and closed at 6125, up 40 from the previous session, or 0.
    66%
    on the day.
    The volume decreased to 171,100 lots, and the open position increased by 4,772 lots to 152,000 lots
    .

    PVC

    Raw material prices: 1, Japan naphtha CF Japan reported 499.
    5 yuan / ton, down 3; Naphtha FOB Singapore was trading at $53.
    62 a barrel, down 0.
    33
    .
    Ethylene CFR Northeast Asia was flat at $1140/mt, while CFR Southeast Asia was flat at $980/mt
    .

    Spot market: The price of some domestic PVC spot markets fell
    .
    North China calcium carbide law reported 6150 yuan / ton, flat; ethylene law reported 6710 yuan / ton, down 30; East China calcium carbide law reported 6250 yuan / ton, flat
    .
    South China calcium carbide method reported 6100, down 100, ethylene method 7200 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, Taishan salinized PVC is not quoted for the time being, calcium carbide method 5 material plant area is basically out of stock
    .
    The arrival of raw materials calcium carbide is insufficient, and the 100,000 tons/year plant in the factory area has started 50%, and the company mainly ships with the market
    .

    The cold weather in the north affects the demand for building materials entering the off-season, the enthusiasm of downstream procurement slows down, the smog environmental protection inspection, the impact of the shutdown of downstream product enterprises, the gradual easing of market supply tension, coupled with the impact of new production capacity and real estate regulation, it is expected that PVC upward momentum is insufficient, but enterprises jointly intend to jointly quote, short-term smog transportation restrictions are expected to have limited
    downward space 。 Technically, PVC1705 closed slightly higher, the futures price below the test of support around 6000, the upper test of pressure around 6300, due to the MACD green kinetic energy column gradually shortened, KDJ indicator turned upward, it is expected that the short-term decline space is limited, it is recommended to try short long trading around 6000, target 6300, stop loss 5900
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.