PVC high opening shock downstream demand is expected to recover

News: As of May 6, the domestic PVC social inventory decreased by 5.
12% month-on-month, an increase of 23.
61% year-on-year, in terms of East China, it decreased by 2.
40% month-on-month and increased by 7.
55% year-on-year, and South China decreased by 9.
60% month-on-month and increased by 68.
42%
year-on-year.
East China stocks are 285,000 tons, South China 160,000 tons
.

Spot market: the PVC market of Qilu Chemical City is stable and improving, the price of intraday is increased by 100-130 yuan / ton, the price of calcium carbide 5 type material is about 5670 yuan / ton, the price of ethylene method S1000 is 5750 yuan / ton, the price of S700 is 5800 yuan / ton, and the transaction situation is general
.

Warehouse receipt inventory: exchange warehouse receipts reported 2462 lots, +0 lots
within the day.
Main position: The top 20 long positions in the main contract are 127826 lots, +4427 lots, short positions are 127292 lots, +2043 lots, net positions are 534 lots, net short to net long
.

Summary: The overseas epidemic seems to be showing signs of easing, and many countries have expectations of de-regulation, reviving expectations of demand recovery, while major oil producers have implemented production reduction commitments, the growth rate of US crude oil inventories has slowed down, and the continuous sharp rebound in international oil prices has been positive for the market
.
In the industrial chain, the domestic PVC social inventory has decreased, and it is expected that after entering May, PVC downstream demand is expected to recover
.
In terms of raw materials, domestic calcium carbide prices continued to fall, but the decline narrowed from last week, while Asian ethylene and vinyl chloride prices rebounded
.
These factors support prices
.