PVC futures price fluctuates in a narrow range, with pressure and support below

News: 1.
Longzhong data statistics show that as of August 8, the domestic PVC social inventory was 122,000 tons, down 7.
44% month-on-month and 53.
08% year-on-year; Among them, East China was 92,000 tons, down 7.
82% month-on-month and 56.
6% year-on-year; South China was 30,000 tons, down 6.
25% month-on-month and 37.
5%
year-on-year.
2.
Last week, the average operating rate of the domestic PVC pipeline industry remained stable at about 46% in the near future, small and medium-sized enterprises maintained a 4-5% operating rate, large enterprises maintained 5-6% starts, and the start of enterprises in the affected area was basically reduced to less than 20%, and the delivery of products and raw material transportation had a greater
impact.
In the current off-season, downstream terminals are mainly purchased on demand
.

Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 9220 yuan / ton, -30
.

Warehouse receipt inventory: 1045 warehouse receipts, -32 sheets
.
Main positions: Top 20 long positions 210256, -9559; short positions 196708, -8854
.
Net excess decrease
.

Summary: PVC operating rates increased month-on-month last week, and PVC market supply increased
.
Domestic PVC social inventories continued to decline month-on-month, indicating that the pressure on the supply side was not large
.
The start of PVC downstream products enterprises is basically stable, the start of soft products and sheets is relatively good, and the start of profiles, pipes and plates is declining
.
Most profile enterprises in North China, East China and South China are at the lower middle level, and the start of enterprises in Xinjiang has improved slightly
.
The intraday V2109 contract is in a narrow range, indicating pressure on it and support
below.
Operationally, it is advisable
for investors to wait and see for the time being.