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On Monday, the PVC V2109 contract reduced its position, and the futures price fluctuated lower, closing at 8885 yuan on the day, -50 yuan from the previous trading day; Volume 570419 lots, open position 419534 lots, -38026, basis 165
.
News: 1.
Longzhong data shows that the operating rate of PVC production enterprises last week increased by 1.
1.
4% month-on-month to 82.
04%, an increase of 13.
54% year-on-year; Among them, calcium carbide method increased by 1.
33% month-on-month to 82.
26%, and increased by 12.
22% year-on-year; The ethylene method increased by 0.
39% month-on-month to 81.
19%, and increased by 18.
76%
year-on-year.
2.
Longzhong data statistics show that last week's domestic PVC social inventory was 239,300 tons, down 5.
23% (13,200 tons) month-on-month, down 48.
98% (229,700 tons) year-on-year; of which East China was 171,300 tons, down 7.
36% (13,600 tons) month-on-month, down 41.
34% (120,700 tons) year-on-year; South China was 68,000 tons, up 0.
59% (0.
04 million tons) month-on-month, down 61.
58% year-on-year (109,000 tons).
Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 9050 yuan / ton, +0
.
Warehouse receipt inventory: 23382 warehouse receipts, +0 sheets
.
Main positions: Top 20 long positions 302876, -20686; short positions 266732, -18826
.
Net excess decrease
.
Summary: Formosa Plastics' increase in May shipping schedule quotations supported
domestic prices.
Domestic: the downstream is basically balanced, the operating rate of profile products is relatively good, although the order is not as expected, but for the time being, the current demand can still be guaranteed, and there is a certain replenishment demand
.
Domestic social inventories continue to decrease, and the inventories of production enterprises are low, indicating that their pressure is not great
.
The domestic PVC operating rate fell slightly last week, but it was still much higher than the same period last year, indicating that the market supply is sufficient
.
Due to the different acceptance of the terminal, the price adjustment plan of the large pipe factory in the early stage was suspended, indicating that the price transmission to the terminal was not smooth
.
At present, the V2109 contract fluctuates at a high level, and the bullish pattern has not changed
.
In terms of operation, it is recommended that investors can set a take profit in their hands and hold
them cautiously.
