PVC futures prices fluctuated higher, and many parties still have an advantage

News: 1.
Longzhong data statistics show that as of September 22, the domestic PVC social inventory was 177,900 tons, an increase of 12.
13% month-on-month and a year-on-year decrease of 33.
40%; Among them, East China was 141,900 tons, an increase of 13.
84% month-on-month and a year-on-year decrease of 39.
64%; South China was 33,000 tons, down 2.
94% month-on-month and up 3.
12%
year-on-year.
2.
The apparent consumption of PVC in August 2021 was 1.
8692 million tons, a decrease of 0.
81% month-on-month and a year-on-year decrease of 1.
37%; From January to August, the total was 14.
3267 million tons, an increase of 2.
58%
year-on-year.
In September, apparent demand is expected to continue to decline year-on-year, with a cumulative growth rate of around
3%.

Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 10300 yuan / ton, +0
.

Warehouse receipt inventory: 7969 warehouse receipts, -0 sheets
.
Main positions: Top 20 long positions 346162, +26669, short positions 304363, +19824
.
Net increase
.

Summary: Crude oil prices experienced a correction
during the Mid-Autumn Festival holiday after unexpected supply disruptions under the influence of hurricanes in the United States gradually recovered.
Last week, the PVC operating rate rebounded month-on-month, and the supply of PVC market increased
.
Domestic PVC social inventories have rebounded for five consecutive weeks, indicating an increase
in supply.
Last week, PVC downstream products enterprises started to differentiate, and the operating rate of large enterprises was still relatively stable, but small enterprises were limited by electricity and production costs were high, and there were signs of
reducing production.
Overall downstream operating rates are expected to remain stable
.
Inner Mongolia power rationing is still the same, calcium carbide supply is tight
.
Recently, the National Development and Reform Commission issued the "Barometer of the Completion of Dual Control Targets for Energy Consumption in Each Region in the First Half of 2021", and the energy intensity of 9 provinces (regions) in China did not decrease but increased in the first half of the year, which was a first-level warning
.
Yulin City requires local coal chemical enterprises to reduce production by 50% in the fourth quarter, and the impact on calcium carbide is expected to increase
.
Jiangsu, Yunnan and other places also have signs of upgrading the dual control of
energy consumption.
The pre-holiday V2201 contract rushed higher and retreated, indicating that there is still some pressure
above.
In terms of operation, it is recommended that investors can reduce their holdings at high prices and drop their pockets
.
The V2201 contract was volatile and higher during the day, indicating that the bulls still have the advantage
.