PVC futures price narrow range finishing short-term or continuation range shock pattern

News: 1.
A fire
broke out in Formosa Plastics Texas special PVC unit.
After a cold wave in February, floods in May, and another accident in June, it is expected that PVC production at the base may continue to be restricted in June and July, and exports can return to normal
in August.
2.
Recently, the General Office of the National Development and Reform Commission issued the "Barometer of the Completion of Dual Control Targets for Energy Consumption in the First Quarter of 2021 in Each Region", strengthening the decision-making and deployment of dual control of total energy consumption and intensity, and strengthening the analysis and early warning
of the dual control situation of energy consumption.
The "Notice" requires that regions with early warning levels of level I and level II should resolutely implement the decision-making and deployment of the Party Central Committee and the State Council, maintain a high degree of vigilance against the severe energy-saving situation in the first quarter, deeply analyze and deeply reflect on the causes of problems, and take effective measures to quickly reverse the passive situation of work to ensure the completion of this year's dual control target of energy consumption, especially the target task
of reducing energy intensity .

Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 9180 yuan / ton, +130
.

Warehouse receipt inventory: 4841 warehouse receipts, -200 sheets
.
Main positions: Top 20 long positions 281570, +2595, short positions 234333, +6368
.
Net excess decrease
.

Summary: PVC operating rates rose slightly last week, and market supply increased
.
Domestic PVC social inventories have decreased year-on-year, indicating that there is not much
pressure on suppliers at present.
In addition to the impact of the off-season, power cuts in South China and road transportation caused by the epidemic have affected the decline
in the start of product enterprises in Foshan.
Some enterprises said that the off-season has made it more difficult to sell factory products, and if there is no improvement in the later period, there is still an expectation
of continuing to reduce the negative.
The National Development and Reform Commission released the target table for the completion of dual control of energy consumption, which is expected to continue in the short term, and the V2109 contract will be narrowly sorted out within the day, and the current PVC is under pressure and support, and it is expected to continue the range shock pattern
in the short term.
Operationally, it is recommended that investors wait and see for the time being
.