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PVC closed slightly lower and range trading is recommended

 Last Update: 2022-12-04
 Source: Internet
 Author: User

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The PVC1705 contract opened at 6880, with a high of 6925, a low of 6740, and closed at 6750, down 185, or 2.
67%,
from the previous session.
The volume decreased to 139,600 lots, and the open position decreased by 17,202 lots to 139,600 lots
.

PVC

Raw material prices: 1, Japan naphtha CF Japan reported 527.
12 yuan / ton, down 1.
5; naphtha FOB Singapore reported 57.
89 US dollars / barrel, down 0.
16
.
ethylene CFR Northeast Asia 1300 US dollars / ton, flat; CFR Southeast Asia was flat at $1110/mt
.

Spot market: The price of some domestic PVC spot market is basically flat
.
North China calcium carbide law reported 6680 yuan / ton, unchanged; ethylene law reported 6970 yuan / ton, up 20; East China calcium carbide law reported 6650 yuan / ton, flat
.
South China calcium carbide method reported 6720 yuan / ton, flat, ethylene method 7150 tons, flat
.
The price of raw materials was basically flat, with East China reporting 3,310 yuan, flat, and Northwest reporting 3,000 yuan, flat
.

News side: 1, Formosa Plastics Ningbo PVC plant started less than 60%, the latest quotation increased, each model in East China reference implementation of 7400-7500 yuan / ton range delivery, traders real order price can be negotiated
.

Hearing that some corporate orders were pre-sold to March, the market continued to raise ex-factory prices due to tight supplies, but PVC weakened due to the impact of commodities on the expected US dollar interest rate hike
.
Technically, the PVC1705 contract closed slightly lower, the futures price tested support around 6650 below, tested the pressure at the 6850 mark above, and the futures price may remain in the 6650-6850 range, recommended range trading
.

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