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PVC futures prices are running weakly, and fundamentals have not improved much

 Last Update: 2022-12-29
 Source: Internet
 Author: User

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supply side west

led spot

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As of 11.
28, PVC futures prices are running weakly; the macro atmosphere has improved; the starting load of PVC industry has increased slightly; calcium carbide starts at a low level, and the price is stable; PVC new equipment is put into testing and running; imports to Hong Kong exceed expectations; terminal demand is general, procurement is resistant to high prices, and spot transactions are not good
.

PVC

Futures market: as of 11.
28, the main PVC closed at 5906 yuan / ton (-3.
5%); Top 20 main long positions: 315210 (-51491) Short positions: 332032 (-23674); Net short position: 16822 (+26348).

Spot: as of 11: East China (calcium carbide method) quotation on the 28th: 6030 yuan / ton (-50); South China (calcium carbide method) quotation: 6105 yuan / ton (-50).

Blue charcoal: as of 11.
28, Shaanxi 1426 yuan / ton (0).

calcium carbide: as of 11.
28 North China 4165 yuan / ton (+125).

In the short term, with the commissioning of new devices, supply-side pressure remains; Downstream demand is generally performing, and there is high price resistance at the spot end, maintaining the state
of rigid procurement.
PVC's own fundamentals have not improved much; On the macro side, domestic financial policies will improve the real estate market in the medium and long term, boosting PVC demand
.
Expectations are good, but it will take time for the policy to be implemented
.
It is feared that the upside of the January contract is relatively limited
.
Wait and see
.

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