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On Monday, the PVC V2109 contract reduced its position, and the futures price opened high and fluctuated, closing at 9355 on the day, +165 yuan from the previous trading day; Volume 371538 lots, open position 481723 lots, -4662, basis -15
.
News: 1.
Last week, Inner Mongolia and Ningxia severely cut power, resulting in a sharp decline
in the start of calcium carbide equipment.
PVC production enterprises have successively reduced their load due to the shortage of calcium carbide, the operating rate has shown a downward trend, and the market supply has decreased
.
The market supply of PVC this week still needs to pay attention to the power restrictions in Inner Mongolia and Ningxia
.
Market supply is expected to continue to decrease
.
2.
Last week, the overall domestic PVC downstream demand was weak, and the terminal real estate and other fields were constrained by the cost of starting insufficiently, of which the operating rate of PVC pipes did not change much this week, large factories concentrated in 5-7% of the operating rate, small and medium-sized enterprises generally less than 50%, downstream product enterprises more cash and use, less stock.
Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 9340 yuan / ton, +150
.
Warehouse receipt inventory: 2072 warehouse receipts, -0 sheets
.
Main positions: Top 20 long positions 334849, -4500, short positions 304328, -5376
.
Net increase
.
Summary: Last week, the PVC operating rate decreased month-on-month, mainly due to the severe power cuts in Inner Mongolia and Ningxia, resulting in a sharp decline in calcium carbide device starts, insufficient market supply, and some calcium carbide PVC manufacturers showed signs
of reducing production.
PVC market supply has decreased
.
The start of PVC downstream products enterprises is still at a relatively low level, and only a few low workers have slightly improved
.
Since the price of PVC is in a high area, downstream enterprises basically maintain just need to purchase, and the intention of stocking is not high
.
Domestic PVC social inventory has rebounded month-on-month, indicating that the current market supply is still relatively sufficient
.
Formosa Plastics' lower August cargo quotation has suppressed prices to a certain extent
.
The intraday V2109 contract opened high and choppy, indicating that the bulls still have the advantage
.
In terms of operation, it is recommended that investors can reduce their holdings when they rush high, and wait for them to recover
after the return.
