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Market situation: PVC low rebounded, V1909 opened at 6800 yuan / ton, the highest reported 6825 yuan / ton, the lowest reported 6755 yuan / ton, closed 6810 yuan / ton, +0.
22% from the previous trading day; Volume 181638 lots, +21856 lots; Position 294892 lots, -6886 lots
.
Basis -10 yuan, -20 yuan, 9-1 spread 175 yuan, +20 yuan
.
In terms of news, the operating rate of PVC downstream products enterprises in July 2019 decreased
significantly.
On the one hand, the downstream is affected by environmental protection inspections, most enterprises stop working, and other enterprises that start construction have low enthusiasm for procurement, and have repeatedly reached new lows
.
On the other hand, due to the high temperature and rainy weather, the operating rate has remained low
.
In the spot market, the price of PVC market in Guangzhou is stable, the mainstream price of calcium carbide five-type material is 6830-6900 yuan / ton in cash exchange and self-pickup, and ethylene material Dagu 1000 tabloid 7050 yuan / ton
.
Shantou area: Junzheng old factory reported 6950 yuan / ton, Inner Mongolia Yihua reported 6890 yuan / ton, real negotiation
.
Warehouse receipt inventory, exchange warehouse receipt reported 2000 lots, in the historical median area, +0 lots
within the day.
The main position, the top 20 long positions of the main contract are 108583 lots -2779 lots, short positions are 106450 lots, -3104 lots, and net long positions are 2113 lots, +325 lots
.
In summary, Inner Mongolia's strengthening of safety production inspections may reduce the operating rate of production enterprises
.
The reduction of anti-dumping duty rates by the Indian Ministry of Finance is expected to increase the export volume of PVC, which supports PVC
.
However, the social inventory of PVC continued to rise month-on-month, indicating that market demand is still low, and the Asian, European and American markets PVC has fallen and also suppressed domestic prices, and it is still in the off-season of PVC demand, and the light transaction in the spot market has put certain pressure
on the price of PVC.
In the later stage, with the completion of maintenance of most PVC production enterprises, the market supply is sufficient, while the orders of downstream enterprises are reduced, enterprises start work at low load, and at the same time the procurement of raw materials is more cautious, generally maintaining just purchases
.
Therefore, PVC may have adjustment pressure in the short term, and operationally, it is recommended that investors can take advantage of high positions and test shorts
.
