Market sentiment improves PVC futures price short-term adjustment

In terms of the market, the listing price of calcium carbide type V in East China on Friday was concentrated in the range of 6150-6200, and the price of ethylene continued to fall to 6400-6700 yuan / ton
.
The PVC market in Guangzhou continued to fall, and spot trading was concentrated at 6100-6220 yuan / ton
.

Last week, the operating rate of PVC downstream products enterprises was 47.
70%, a decrease of 1.
98% month-on-month and a year-on-year decrease of 5.
03%.

The profile operating rate was 34.
75%, an increase of 1.
25% month-on-month and a year-on-year decrease of 17.
75%.

Last week, some PVC installations reduced production by 1-20%, but due to the return of pre-maintenance equipment, PVC starts have risen, and the impact of the current production reduction is small
.

On the demand side, external prices continued to fall, export orders were low, domestic downstream starts were lower, domestic demand did not improve, and July was still a demand off-season
.
After the price fell to a low level, some large downstream enterprises took the goods at the forward price last week, and the transaction volume increased, but the order did not substantially improve
.
Last week, social inventory and upstream inventory continued to accumulate, inventory pressure is large, the future market is still accumulation pattern, short-term shock is still empty, but chlor-alkali integration loss, downward space is not large
.
Pay attention to upstream production cuts and demand changes
.

The fundamentals of the domestic PVC market have not changed much, the growth rate of social inventory in East and South China has slowed down, the purchasing enthusiasm of some terminal products enterprises has increased slightly, the macro market atmosphere has improved, and pessimism has been repaired
.
PVC futures prices may still have room
to rebound after short-term adjustments.
Keep an eye on market bullish sentiment changes
.