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The PVC1901 contract opened at 6710 yuan, the highest 6745 yuan, the lowest 6630 tons, closed at 6725 tons, down 35 yuan, or 0.
52%, the volume was 253680 lots, and the position increased by 14606 lots to 248642 lots
.
News side: According to the latest ICIS-MRC price report, price negotiations for polyvinyl chloride (PVC) deliveries to the CIS market in Europe in October began last week, and it is understood that the ethylene contract price in October increased by 10 euros/ton compared with September, increasing the cost of PVC production by at least 5 euros/tonne
.
However, due to seasonal factors, the demand for PVC from major consumers in CIS countries is low, so the negotiated price of suspended polyvinyl chloride exported from Europe to the CIS market in October was 720~790 euros / ton, and the price last month was 730~790 euros / ton, and the price fell slightly
.
Upstream price: Naphtha CF Japan reported 697.
88 US dollars / ton, -2.
58%; FOB Singapore is trading at $75.
8/b, -2.
65%.
ethylene CFR Northeast Asia 1140 US dollars / ton, -1.
72%; CFR Southeast Asia was trading at $1,040/mt, -1.
89%.
Domestic calcium carbide prices were stable, with East China reporting 3700 yuan, flat, and Northwest reported 3405 yuan, flat
.
Spot market: CFR Southeast Asia quoted $860, +0%; CFR China quoted $860, -0%.
North China calcium carbide law reported 6820 yuan / ton, +0%; Ethylene method reported 6900 yuan / ton, +0%; East China calcium carbide method reported 6800 yuan / ton, -0.
73%, ethylene method 7050 yuan, +0%; South China calcium carbide method 6900 yuan, +0%, ethylene method 7290 yuan, +0%.
PVC1901 rebounded and the position increased significantly, indicating that there were funds entering the market to bottom
.
Fundamentally, the strong price of calcium carbide has formed a certain support for the futures price, but the global stock market has fallen sharply, and the rise of social inventory has suppressed
the futures price.
Technically, the median MACD level is flat, the red bar continues to shorten, and the KDJ indicator shows signs of a median turn, indicating that the short-term trend is still weak
.
Operationally, due to the recent weak trend of PVC and the pressure above, it remains to be seen whether a bottom will form, and it is recommended that investors wait and see for the time being
.
