PVC futures price shock retreat, short-term technical adjustment requirements

News: 1.
The average operating rate of PVC production enterprises last week was 78.
92%, an increase of 1.
21% month-on-month and 0.
93%
year-on-year.
Among them, the calcium carbide method started construction 78.
71% this week, an increase of 0.
99% month-on-month and a year-on-year decrease of 0.
26%; The ethylene method was at 79.
99%, an increase of 2.
24% from last week and a year-on-year increase of 6.
47%.

2.
Last week, the inventory of PVC manufacturers decreased by 14.
39% month-on-month, an increase of 80.
70% year-on-year, and the volume of pre-sale orders increased by 0.
11% month-on-month and 42.
02%
year-on-year.
Social inventory decreased by 2.
62% month-on-month and 14.
24%
year-on-year.

Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 6500 yuan / ton, -80
.
Warehouse receipt inventory: 427 warehouse receipts, +0
.

Main positions: the top 20 long positions 70443, -40, short positions 66494, -4060
.
Net increase
.

Summary: The upstream leading manufacturers Wuhai Chemical, Inner Mongolia Junzheng, Shaanxi Beiyuan, and Xinjiang Zhongtai plan maintenance in August, and it is expected that the market supply will be reduced, and the pressure on the supply side will not be large
.
Imports rose sharply in June and domestic supply increased
.
In terms of demand, PVC social inventory continued to fall, indicating that PVC downstream demand is still good, which supports the price of PVC
.
But after a period of rebound, there are certain technical adjustment requirements
for the short term.
In terms of operation, it is recommended that investors can reduce their holdings in batches at high prices, and put their pockets in peace
.