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PVC1901 contract opened at 6340 yuan, the highest 6360 yuan, the lowest 6250 tons, closed at 6325 tons, down 0 yuan, or 0.
00%, the volume was 239946 lots, and the position decreased by 512 lots to 255408 lots
.
News: At the 10th Lusu-Yumeng Chlor-alkali Enterprise Cooperation and Development Forum, it was revealed that the total annual production capacity of caustic soda in the four provinces of Lusu and Yumeng reached more than 21 million tons, accounting for more than
50% of the total annual production capacity of caustic soda in the country.
In the past few years, due to overcapacity and market factors, the operating rate of some chlor-alkali enterprises in the four provinces and regions has been as low as 60%.
Since last year, the market has recovered, and enterprises have gradually come out of the trough, and the operating rate has risen sharply to 85%~90%.
However, the long-term low-end and homogeneous competition of PVC and other chlorine-consuming products of many enterprises still exists
.
Upstream Price: Naphtha CF Japan reported $610.
38/mt, -4.
50%; FOB Singapore is trading at $65.
93/b, -4.
78%.
ethylene CFR Northeast Asia 920 US dollars / ton, -1.
08%; CFR Southeast Asia was quoted at $835/mt, -1.
18%.
Domestic calcium carbide prices fell, East China reported 3440 yuan, -0%, Northwest reported 3225 yuan, -0%.
Spot market: CFR Southeast Asia quoted $850, +0%; CFR China is trading at $850, +0%.
Domestic: North China calcium carbide law reported 6500 yuan / ton, -1.
07%; Ethylene method reported 6700 yuan / ton, -1.
18%; East China calcium carbide method reported 6500 yuan / ton, -0.
46%, ethylene method 6850 yuan, -2.
14%; South China calcium carbide method 6500 yuan, -1.
52%, ethylene method 7220 yuan, +0%.
PVC1901 rebounded, trading volume shrank sharply, and positions also decreased
slightly.
Fundamentally, raw material prices have fallen, and weak spot prices have suppressed futures prices, but after a continuous decline, there are obvious signs
of over-fall in the short term.
Technically, the MACD indicator is flat at a low level and the KDJ indicator is flat at a low level, indicating that the bears' strength has weakened, but it remains to be seen
whether it can successfully stop the decline.
In terms of operation, it is recommended that investors wait and see for the time being
.
