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On Thursday, the PVC V2109 contract reduced its position, and the futures price encountered obstacles to the upside, closing at 9120 on the day, +45 yuan from the previous trading day; Volume 309121 lots, open position 379421 lots, -7901, basis 160
.
News: 1.
This week, the PVC market in Europe was affected by force majeure in the region, and the price continued to rise by 10-15 euros / ton, and the export price remained stable
.
U.
S.
export PVC prices rose $45/ton to $1520/ton FAS Houston
.
Domestic demand in the United States is better, and export supply remains tight
.
2.
PVC downstream products enterprises are still in the off-season, the overall start is not high, the orders are insufficient, the cost pressure is also large, the resistance to high-priced raw materials is obvious, affecting the market transaction atmosphere, and the downstream chasing is weak, and the price in the southwest market has fallen
slightly.
Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 9280 yuan / ton, +30
.
Warehouse receipt inventory: 1554 warehouse receipts, -0 sheets
.
Main positions: the top 20 long positions 261557, -13368, short positions 253430, -3484
.
Net excess decrease
.
Summary: Last week, the PVC operating rate decreased month-on-month, mainly due to the severe power cuts in Inner Mongolia and Ningxia, resulting in a sharp decline in calcium carbide device starts, insufficient market supply, some calcium carbide PVC manufacturers have signs of reducing negative production, and the supply of PVC market has decreased
.
Domestic PVC social inventories have fallen month-on-month, indicating that there is little pressure on the supply side
.
The start of PVC downstream products enterprises is basically stable and still at a relatively low level, of which the start of flooring enterprises has increased
slightly.
The downstream operating rates in East China, North China and South China all remained at a moderately low level
.
Since the price of PVC is in a high area, downstream enterprises basically maintain just need to purchase, and the intention of stocking is not high
.
Formosa Plastics' downward revision of August cargo quotations has suppressed prices to a certain extent
.
Today's V2109 contract fluctuated at a high level, indicating pressure on the top and support
below.
Operationally, it is recommended that investors wait and see for the time being
.
