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PVC1901 contract opened at 6600 yuan, the highest 6745 yuan / ton, the lowest 6560 yuan / ton, closed at 6720 yuan / ton, up 70 yuan, or 1.
05%, the volume was reported 223576 lots, and the position decreased by 32926 lots to 231066 lots
.
News: On September 28, 2018, the Ministry of Commerce issued an announcement on the final review of anti-dumping measures for imported polyvinyl chloride originating in the United States, South Korea, Japan and Taiwan, which began on September 29, 2018 and ended
before September 28, 2019.
Previously, on September 29, 2003, China decided to implement anti-dumping measures on PVC in the above countries for a period of 5 years
.
This was followed by two extensions in 2009 and 2015
.
Personally, I believe that based on the current Sino-US trade tensions, the continuation of anti-dumping is more likely to be extended
.
Upstream price: naphtha CF Japan reported 716.
88 US dollars / ton, up 0.
51%; FOB Singapore was trading at $78.
42 a barrel, up 0.
50%.
ethylene CFR Northeast Asia 1280 US dollars / ton, down 20 US dollars; CFR Southeast Asia was flat at $1160/mt
.
Domestic calcium carbide prices were stable, with East China reporting 3700 yuan, flat, and Northwest reported 3405 yuan, flat
.
Spot market: CFR Southeast Asia was flat at $880; CFR China was flat at $870
.
North China calcium carbide law reported 6760 yuan / ton, flat; ethylene law reported 7,000 yuan / ton, flat; East China calcium carbide method reported 6750 yuan / ton, flat, ethylene method 7080 yuan, flat; South China calcium carbide method 6900 yuan, down 20 yuan, ethylene method 7290 yuan, down 10 yuan
.
PVC1901 bottomed out, and positions continued to shrink sharply, indicating that short funds left the market
.
Fundamentally, the strong price of calcium carbide has formed a certain support for the futures price, but the Asian spot price is sluggish, and the willingness of downstream demanders to take goods is not strong, which suppresses
the futures price.
Technically, MACD has a low flattening, the green column is shortened, and the KDJ indicator divergence from the low level, indicating that there is a short-term rebound requirement, and the future market pays attention to whether the upper pressure can be broken
.
In terms of operation, it is recommended that investors wait and see for the time being and wish a happy holiday!
