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On Thursday, February 6, PVC main V2005 contract rebounded slightly, closing at 6245 yuan / ton, +40 yuan from the previous trading day; Volume 74722 lots, -16233 lots; Position 158870 lots, +11091 lots, basis 505 yuan, -40 yuan; 5-9 spreads - 50 yuan, +25 yuan
.
News: In December, China's PVC flooring exports were 413,000 tons, an increase of 17%
month-on-month.
In 2019, the cumulative export of PVC flooring was 4.
03 million tons, a year-on-year increase of 14%.
In 2019, even with the impact of the Sino-US trade war, the entire PVC flooring export still maintained double-digit growth, indicating that overseas PVC flooring demand is still very strong
.
In 2019, the apparent consumption of PVC reached 19.
996 million tons, a year-on-year increase of 4.
32%, and the downstream consumption of PVC was 20.
0509 million tons, a year-on-year increase of 4.
73%.
Spot market: Most of the domestic PVC spot market is still in the closed period, merchants have no quotation, downstream resumption of work is mostly next week, short-term no transaction
.
Warehouse receipt inventory: exchange warehouse receipts reported 4755 lots, intraday -0 lots
.
Main position: The top 20 long positions in the main contract are 118706 lots, +14260 lots, short positions are 113704 lots, +5428 lots, and the net position is 5002 lots, net long increases
.
Summary: After the holiday, the operating rate of PVC production enterprises fell back to 70.
66%.
It shows that the production enterprises after the holiday have significantly reduced their burden
.
However, due to transportation restrictions, the inventory of PVC enterprises still reached 475,600 tons, an increase of 51.
03% over the pre-holiday period and a slight increase of 1.
11%
over the same period last year.
On the demand side, most downstream factories began to stop in mid-January, and the start of construction has fallen to a low point, and many areas have issued notices, and all new and under construction sites need to be postponed
.
Therefore, most downstream enterprises have not yet set the start time, and the willingness to stock is weak
.
In general, due to transportation problems, the supply of PVC after the holiday has decreased, but it is currently in the off-season of PVC demand, downstream demand is insufficient, coupled with the need to delay the start of downstream construction, it is expected that the sluggish downstream demand will inhibit the price of
PVC.
