PVC contracts reduce positions and futures prices fluctuate higher

News: 1.
Longzhong data statistics show that as of September 26, the domestic PVC social inventory was 181,300 tons, an increase of 3.
66% month-on-month and a year-on-year decrease of 27.
48%; Among them, East China was 147,300 tons, an increase of 3.
81% month-on-month and a year-on-year decrease of 35.
11%; South China was 34,000 tons, an increase of 3.
03% month-on-month and 47.
83%
year-on-year.
2.
The price in the Indian domestic market remained high, with PVC quoted at 154 rupees / kg, and import source quotations at 1820-1860 US dollars / ton CFR India
.
Taiwan's Formosa Plastics prices for November are expected to be announced
in mid-October.

Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 11600 yuan / ton, +700
.

Warehouse receipt inventory: 7589 warehouse receipts, -200 sheets
.
Main positions: Top 20 long positions 314128, -22709, short positions 297462, -2095
.
Net excess decrease
.

Summary: PVC operating rate decreased month-on-month last week, and PVC market supply decreased
.
However, domestic PVC social inventories have stopped falling for five consecutive weeks and rebounded, indicating that supply has increased
.
Last week, PVC downstream products enterprises started to differentiate, and the operating rate of large enterprises was still relatively stable, but small enterprises were limited by electricity and production costs were high, and there were signs of
reducing production.
It is expected that the overall downstream operating rate will remain basically stable
.
Inner Mongolia power rationing is still the same, calcium carbide supply is tight
.
Recently, the National Development and Reform Commission issued the "Barometer of the Completion of Dual Control Targets for Energy Consumption in Each Region in the First Half of 2021", and the energy intensity of 9 provinces (regions) in China did not decrease but increased in the first half of the year, which was a first-level warning
.
Affected by this, Jiangsu, Guangdong, Zhejiang, Inner Mongolia, Ningxia, Shaanxi dual control policies on energy consumption have been upgraded, "open one stop six", "limit production by 90%", "thousands of enterprises stop production" and other measures have been introduced, the expectation of market supply reduction is heating up
.
The intraday V2201 contract fluctuated to the upside and updated its all-time high, indicating that the bulls still have a certain advantage
.