PVC main contract rebounded slightly The space for rebound in the short term is limited

News: PVC social inventory this week decreased by 9.
36% month-on-month, an increase of 20.
53% year-on-year, in East China, it decreased by 7.
78% month-on-month and increased by 42.
59% year-on-year, and South China decreased by 17.
16% month-on-month and decreased by 34.
88%
year-on-year.
East China stocks are 154,000 tons, South China 28,000 tons
.

Spot market: Qilu Chemical City market price slightly adjusted, calcium carbide method 5 type quotation at 6640 yuan / ton (including tax self-pickup), ethylene Qilu material price S700 quotation excluding tax 6660 yuan / ton, S1000 quotation excluding tax 65000 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 4819 lots, intraday -311 lots, in the historical high area
.
Main positions: The top 20 long positions in the main contract are 118595 lots, -1732 lots, short positions are 102204 lots, -2529 lots, and the net position is 16391 lots, a net long increase
.

Summary: The start of production enterprises has risen steadily, output has increased, the supply of PVC spot market is sufficient, the pressure of calcium carbide transportation has been eased, the market supply is sufficient, and the price has weakened
.
The weakening of cost support for PVC and Taiwan's downward revision of its November sailing schedule quotation are negative for PVC
.
However, the recovery of crude oil has boosted the confidence of market investors, and the recent accident in Inner Mongolia Sanlian Chemical is expected to lead to production suspension, which is also good for PVC
.
The future market will pay attention to whether China's anti-dumping of the United States, Japan, South Korea and Taiwan will continue after the expiration of anti-dumping
.
It is expected that the space for PVC rebound in the short term is limited
.
Operationally, it is recommended that investors operate
in the range of 6350-6450.