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Market inventory pressure is large, PVC remains low and wide volatility

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

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Market trend: PVC1709 contract opened at 5545 yuan / ton on Wednesday, the highest 5645 yuan / ton, the lowest 5505 yuan / ton, and closed at 5560 yuan / ton, down 35 yuan / ton from the previous trading day, down 0.
63%
per day.
The volume increased to 194,900 lots, and the open position increased by 2,306 lots to 145,500 lots
.

PVC

News: Qilu Petrochemical PVC accompanied the market shipment, ethylene S1000/S700 is not clearly quoted for the time being, the plant 240,000 tons / year plant is planned for annual maintenance on May 15, a period of about
45 days.

Price: Japanese naphtha CF Japan reported 461.
62 yuan / ton, down 4.
63; naphtha FOB Singapore reported 50.
58 US dollars / barrel, down 0.
42
.
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 market fell
slightly.
North China calcium carbide law reported 5620 yuan / ton, down 30; ethylene law reported 6110 yuan / ton, flat; East China calcium carbide law reported 5570 yuan / ton, down 30
.
South China calcium carbide method reported 5660, down 10, ethylene method 6180 tons, down 20
.
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 closed down in volatility, testing pressure around 5700 above, testing support around 5450 below, and short-term expected to remain in the 5450-5700 range, recommended range trading
.

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