PVC futures price shock rebound short-term bulls still have the advantage

News: 1.
Longzhong data statistics show that as of June 27, the domestic PVC social inventory was 139,700 tons, down 11.
58% month-on-month and 50.
98% year-on-year; Among them, East China was 99,700 tons, down 10.
98% month-on-month and 50.
40% year-on-year; South China was 40,000 tons, down 13.
04% month-on-month and 52.
38%
year-on-year.
2.
In the last cycle (20210618-0624), among the 31 sample enterprises of Longzhong Information, the production capacity was 15.
41 million tons, and the sample operating rate was 81.
65%, up 1.
6%
from last week.

Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 9050 yuan / ton, +100
.

Warehouse receipt inventory: 2585 warehouse receipts, -100 sheets
.
Main positions: Top 20 long positions 266309, -11643, short positions 253344, +3782
.
Net excess decrease
.

Summary: Last week, PVC operating rates continued to rise slightly year-on-year, and market supply increased
.
At present, the large-scale maintenance of PVC production enterprises has ended, and there are fewer maintenance enterprises in the later stage, and the operating rate of the PVC industry as a whole shows a rebound trend
.
The start of PVC downstream products enterprises is still differentiated, and the start of soft products is better than that of hard products
.
From the perspective of domestic PVC profile products enterprises, some of them continued to reduce their starts during the week to cope with the impact of the off-season, and most profile enterprises in North China, East China, South China and Northwest China were at the lower middle starting level
.
Formosa Plastics lowered the July cargo quotation, and PVC social inventory rebounded month-on-month, which also suppressed
prices.
Today's V2109 contract is volatile higher, indicating that short-term bulls still have the advantage
.
Operationally, it is recommended that investors wait and see for the time being
.