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Market inventory pressure is large, PVC maintains a low level and wide volatility in the short term

 Last Update: 2022-12-05
 Source: Internet
 Author: User

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Market trend: On Monday, the PVC1709 contract opened at 5640 yuan / ton, the highest 5670 yuan / ton, the lowest 5505 yuan / ton, and closed at 5600 yuan / ton, down 85 from the previous trading day, down 1.
5%
on the day.
The volume decreased to 179,900 lots, and the open position decreased by 902 lots to 144,600 lots
.

PVC

News: Sichuan Yibin Tianyuan PVC plant 380,000 tons / year equipment maintenance plan postponed to early May, currently no external quotation, Sichuan calcium carbide method 5 type material around the quotation is about
5800 yuan / ton.

Price: Japan naphtha CF Japan reported 470.
25 yuan / ton, down 0.
25; naphtha FOB Singapore reported 51.
42 US dollars / barrel, up 0.
08
.
ethylene CFR Northeast Asia 1205 US dollars / ton, flat; CFR Southeast Asia was flat at $1,060/mt
.

Spot market: The price of some domestic PVC spot markets increased
slightly.
North China calcium carbide law reported 5650 yuan / ton, up 20; Ethylene law reported 6090 yuan / ton, flat; East China calcium carbide law reported 5650 yuan / ton, flat
.
South China calcium carbide method reported 5670, up 20, ethylene method 6200 tons, flat
.
The price of raw materials was basically flat, with East China reporting 2950 yuan, flat, and Northwest reported 2550 yuan, flat
.

Summary of views: PVC market inventory pressure is large, downstream enterprises receive goods on demand, traders have insufficient confidence in the market after the market, mainly selling, and it is expected to maintain a low and wide range in the short term
.
Technically, the PVC1709 contract rebound is insufficient, the upper test of pressure around 5700, the lower test of support around 5450, short-term is expected to maintain the 5450-5700 range oscillation, recommended range trading
.

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