PVC futures price rebound weak short-term need to prevent technical correction

News: 1.
According to the latest statistics: as of the 23rd, some units of the US refinery have been restarted
after the cold wave.
The chemical production capacity involved is 3.
8 million tons and three cracking furnaces respectively; PE equipment (including high and low voltage linear) 2.
32 million tons, PP plant 800,000 tons, PVC plant 513,000 tons
.
U.
S.
domestic supply has picked up
.
2.
The domestic calcium carbide market has a strong rising atmosphere, the trade price in Wuhai area has risen to 3400 yuan / ton, the shipment is smooth, the inventory status, and it is planned to continue to raise by 100 yuan / ton
.

Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 8800 yuan / ton, -150
.

Warehouse receipt inventory: 9625 warehouse receipts, -244 sheets
.
Main positions: Top 20 long positions 221711, +10905, short positions 239800, +4192
.
Reduced
headroom.

Summary: During the long holiday, the United States suffered from extreme cold shock, resulting in large-scale power outages, and the production load of many PVC-related installations decreased
.
In Europe, the PVC plant Tavaux was shut down due to a production line failure and the date of reopening was undecided
.
South Korea, Taiwan, and India also have shutdowns and maintenance, and the tight global PVC supply situation continues during
the long holiday.
The Indian market price jumped more than $50/mt, and the CFR India price exceeded $1400/mt
.
Domestically, during the long holiday, domestic PVC production enterprises started normally, and downstream enterprises were affected by the New Year in the place of employment, and the downstream operating rate is expected to recover
early.
However, after a sustained sharp rise, PVC has signs of overbought in the short term, and the short-term need to prevent a technical pullback.