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Trade Service
On Thursday, the PVC V2109 contract reduced its position, and the futures price fluctuated lower, closing at 9110 yuan on the day, -155 yuan from the previous trading day; Volume 588126 lots, open position 384204 lots, -49378, basis 630
.
News: 1.
It is understood that this year's PVC downstream products enterprises new orders from the middle to late April began to appear inflection point, due to the current high price, and some terminals have demand for early overdraft, including individual large factories also appear to reduce the number of orders
.
Without the support of new orders and profits, companies are reluctant to stock up, and this year's traditional off-season will be more obvious
than in previous years.
2.
The Asian market price was lowered by $30 this week, CFR China at $1420/ton, CFR Southeast Asia at $1480/ton, CFR India at $1550/ton
.
FOB Northwest Europe market was -$40 at $1680/mt and the US market was at $1750, unchanged
from the previous week.
Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 9450 yuan / ton, +20
.
Warehouse receipt inventory: 7451 warehouse receipts, +180 sheets
.
Main positions: Top 20 long positions 258476, -26380, short positions 240628, -33279
.
Net increase
.
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: PVC operating rate increased slightly last week, market supply increased, but the inventory of production enterprises and downstream enterprises decreased, and social inventory increased slightly, indicating that goods flowed to middlemen
.
The operating rate of downstream enterprises fell
slightly.
The operating rate of soft and hard products has declined, the orders of downstream enterprises have decreased slightly, and the inventory of raw materials of downstream products has decreased month-on-month, indicating that downstream enterprises dare not stock up
.
In terms of operation, it is recommended that investors reduce their holdings at high prices and drop their pockets
.
