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On Monday, the PVC V2109 contract increased its position, and the futures price showed an upward resistance pattern, closing at 8840 yuan on the day, +40 yuan from the previous trading day; Volume 488430 lots, position volume 377466 lots, +39559, basis 210
.
News: 1.
As of last week, the domestic PVC social inventory was 252,500 tons, down 13.
02% (-37,800 tons) month-on-month and 49.
50% (-247,500 tons) year-on-year; of which East China was 184,900 tons, down 14.
40% (-31,100 tons) month-on-month, down 38.
57% (-116,100 tons) year-on-year; South China was 67,600 tons, down 9.
02% (-67,000 tons) month-on-month, down 66.
03% year-on-year (-131,400 tons).
2.
Longzhong data shows that as of last week, the operating rate of domestic PVC production enterprises fell by 1.
67% month-on-month to 80.
90%, an increase of 11.
67% year-on-year; Among them, the calcium carbide method decreased by 1.
23% month-on-month to 80.
92%, an increase of 9.
34% year-on-year; The ethylene method decreased by 3.
42% month-on-month to 80.
81%, an increase of 20.
88%
year-on-year.
Showing a decrease
in PVC supply last week.
Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 9050 yuan / ton, +150
.
Warehouse receipt inventory: 3327 warehouse receipts, +0 sheets
.
Main positions: Top 20 long positions 260756, +23831, short positions 243801, +21652
.
Net increase
.
Summary: Overseas supply remains tight, prices remain firm, and Formosa Plastics raised its May shipping schedule quotations, all of which supported
domestic prices.
Domestic: Due to the different acceptance of the terminal, the price adjustment plan of the large pipe factory in the early stage was suspended, indicating that the price transmission to the terminal was not smooth
.
Last week, the domestic PVC operating rate fell slightly, but it was still much higher than the same period last year
.
The downstream is basically balanced, the operating rate of profile products is relatively good, although the order is not as expected, but it can still guarantee the current demand for the time being, and there is a certain replenishment demand
.
Pipe, floor, cable factory terminal orders are relatively optimistic
.
Domestic social inventories continue to decrease, and the inventories of production enterprises are low, indicating that their pressure is not great
.
At present, the V2109 contract continues to fluctuate higher, and the short-term bullish pattern has not changed
.
