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On Thursday, the PVC V2109 contract contracted and increased its position, and the futures price fluctuated higher, closing at 9120 yuan on the day, +290 yuan from the previous trading day; Volume 456715 lots, position volume 426658 lots, +50393, basis 390
.
News: 1.
Asian buyers expect Formosa Plastics PVC quotations in June to be sharply reduced, and the epidemic in India has severely weakened market demand, resulting in the obstruction of exports from Taiwan, South Korea, Japan and Chinese mainland, and market participants said that price expectations for June were sharply reduced
。 2.
Longzhong data statistics show that as of May 3, the domestic PVC social inventory was 213,200 tons, down 10.
91% month-on-month and 52.
09% year-on-year; Among them, East China was 152,200 tons, down 11.
15% month-on-month and 46.
60% year-on-year; South China was 61,000 tons, down 10.
29% month-on-month and 61.
88%
year-on-year.
Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 9200 yuan / ton, +150
.
Warehouse receipt inventory: 3797 warehouse receipts, +0 sheets
.
Main positions: Top 20 long positions 291154, +21212, short positions 267497, +23072
.
Net excess decrease
.
Summary: During the long holiday, international crude oil continued to fluctuate higher
.
Domestic PVC fundamentals are relatively calm
.
The demand for downstream products is still supported, but due to the current PVC price in the high area, the profit margin of product enterprises has been seriously compressed, the terminal will continue to maintain just need procurement, and some downstream factory production workshops are on holiday
.
India's severe epidemic, weakening demand, and due to the resumption of production of equipment suspended in the United States, export expectations are expected to increase, and Taiwan's June quotation of cargo is likely to be
lowered.
At present, all parties in the market are mainly wait-and-see, and some domestic exports will be transferred to domestic sales or will increase the pressure on the
domestic market.
In terms of operation, it is recommended that investors reduce their holdings in the hands of a large spike, and drop their pockets for safety
.
