PVC fell slightly Downstream demand has not fully recovered

News: As of April 8, PVC prices in the Asian market continued to fall by $50, with CFR China at $720/ton, CFR Southeast Asia at $720/ton, and CFR India at $760/ton
.

Spot market: the PVC market trend of Qilu Chemical City is good, the intraday offer is raised by 100-130 yuan / ton, the price of calcium carbide 5 type material is about 5630 yuan / ton, the price of ethylene method S1000 is 5650 yuan / ton, the price of S700 is 5750 yuan / ton, and the transaction situation is acceptable
.

Warehouse receipt inventory: exchange warehouse receipt reported 162 lots, +0 lots
within the day.
Main position: The top 20 long positions in the main contract are 141624 lots, +7932 lots, short positions are 134784 lots, +10054 lots, and the net position is 6840 lots, net long decrease
.

Summary: Social inventories are still high, indicating that the market is still oversupplied
.
Formosa Plastics lowered PVC prices in April, and these factors suppressed
prices to a certain extent.
The postponement of the OPEC+ meeting may cause market concerns about whether oil-producing countries can reach a joint production reduction agreement, and the absolute value of domestic two barrels of oil and petrochemical inventories is still high, indicating that downstream demand has not fully recovered, forming a certain pressure
on prices.
However, domestic petrochemical enterprises have a strong willingness to raise prices, which has formed a certain support
for prices.
Whether the key OPEC+ meeting in the future market can reach an agreement on the production reduction agreement, operationally, investors can set a take profit in their hands and hold
it cautiously.