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On Wednesday, the PVC 2009 contract was volatile lower, closing at 6580 yuan / ton, -110 yuan from the previous trading day; Volume 197768 lots, +4825 lots; Position 182645 lots, -7443 lots, basis 70 yuan, +35 yuan; 9-1 spread 190 yuan, -10 yuan
.
News: Taiwan Province Formosa Petrochemical refinery accident, according to Longzhong understand that the accident for the low-sulfur fuel oil plant high-pressure cooling system problems caused by the accident fire, it is understood that in the accident handling, there were no casualties, the overall production of the enterprise has little impact, and then wait for the manufacturer to announce the explanation, the company originally planned to start overhaul
in mid-August.
In May 2020, China's PVC gloves exported 50,474.
571 tons, an increase of 58.
82% year-on-year and 33.
21%
month-on-month.
Spot market: Changzhou market sentiment turned weak, the price part fluctuated slightly lower, calcium carbide five-type material spot quotation at 6620-6680 yuan / ton; The mainstream of the five-type market of ethylene market is 6850-7000 yuan / ton self-pickup, and the actual order is negotiated
.
Warehouse receipt inventory: exchange warehouse receipts reported 429 lots, intraday -0 lots
.
Main position: The top 20 long positions in the main contract are 118322 lots, -8164 lots, short positions are 128438 lots, -2839 lots, net positions are -10116 lots, net space increases
.
Summary: Asian demand is basically stable, and Formosa Plastics raised its quotation in August to support
PVC.
Domestically, the maintenance of domestic production enterprises continued
.
Market supply is expected to increase
.
On the demand side, the domestic real estate market recovered slightly in April, but demand in areas affected by floods in the near future will weaken.
In May, the apparent demand for PVC increased year-on-year and was higher than the same period last year, indicating that downstream rigid demand is still there
.
Social inventories have shown signs of accelerating their decline, and have now returned to below the level of the same period last year, indicating that PVC downstream demand has recovered well, supporting the price of PVC
.
However, after a sustained rise, there are signs of overbought in the short term, and a technical correction needs to be
prevented.
In terms of operation, investors have a lot of high positions in their hands to reduce their holdings and drop their pockets for safety
.
