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On Monday, the PVC V2109 contract reduced its position, and the futures price fluctuated higher, closing at 9345 yuan on the day, +120 yuan from the previous trading day; Volume 497853 lots, open position 464327 lots, -3466, basis 395
.
News: 1.
Longzhong data shows that the operating rate of PVC production enterprises last week was 82.
53%, an increase of 1.
63% month-on-month and 9.
97% year-on-year; Among them, the calcium carbide method was 82.
41%, an increase of 1.
09% month-on-month, a year-on-year increase of 7.
85%, and the ethylene method was 82.
99%, an increase of 3.
76% month-on-month and a year-on-year increase of 18.
34%.
2.
Longzhong data statistics show that as of May 10, the domestic PVC social inventory was 223,600 tons, an increase of 14.
86% month-on-month and a year-on-year decrease of 47.
27%; Among them, East China was 154,400 tons, an increase of 1.
45% month-on-month and a year-on-year decrease of 44.
86%; South China was 69,200 tons, an increase of 13.
38% month-on-month and a year-on-year decrease of 51.
97%.
Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 9450 yuan / ton, +70
.
Warehouse receipt inventory: 5787 warehouse receipts, +2000 sheets
.
Main positions: Top 20 long positions 310515, -4138; short positions 286873, -2845
.
Net excess decrease
.
Summary: India's epidemic is serious, demand is weakening, 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.
Domestic downstream demand is acceptable, 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 to purchase, it is rumored that some manufacturers began to reduce production and stop production
.
In the first week after the holiday, PVC social inventories rose month-on-month, but they were still far below the level of the same period last year, indicating that the pressure on the supply side was not large, forming a strong support
for prices.
The fundamentals are long and short entangled, it is recommended that investors can reduce their holdings when they rush high quickly, and drop their pockets for safety
.
