PVC main shock lower after the market center of gravity is more likely to shift

In terms of news: Taiwan Plastics Formosa Plastics November shipping schedule quotation was lowered by 30 US dollars / ton compared with October, Indian customers although the demand was not as expected, but the market feedback pre-sale has been sold out, Chinese mainland and Taiwan Province FOB price has been lowered simultaneously, generally cautious about November market demand, coupled with the end of regional maintenance, November exports continued to remain above
70,000 tons.

Spot market: the price of calcium carbide 5 type in Qilu Chemical City is stable, the quotation is 6670 yuan / ton (including tax self-pickup), the price of ethylene material Qilu material is stable, the price of S700 is 7040 yuan / ton, and the quotation of S1000 is 6950 yuan / ton
.

Warehouse receipt inventory: Exchange warehouse receipts reported 5930 lots, intraday -200 lots, in the historical high area
.
Main position: The top 20 long positions in the main contract are 126656 lots, +973 lots, short positions are 111185 lots, -259 lots, and the net position is 15471 lots, a net long increase
.

Summary: The easing of the Sino-US trade dispute has led to a return to market confidence, which has formed a certain support
for the market.
However, the recent trend of international crude oil has weakened, and with the end of the long holiday, environmental protection production restrictions and restrictions policy have been lifted one after another, production enterprises have started to rise steadily, production has increased, PVC spot market supply is sufficient, over time, the planned maintenance of the device is also less and less, in the later stage, only Xinfa and Shenma have maintenance plans, and in the later stage, there are three sets of Dezhou, Zhongtai, Jinniu three sets of equipment planned to be put into production, it is expected that the market will continue the pattern
of oversupply.
In addition, the pressure on calcium carbide transportation has eased, the market supply is sufficient, and the price has weakened
.
The cost support effect on PVC is weakened
.
After the expiration of anti-dumping, whether China's anti-dumping against the United States, Japan, South Korea and Taiwan will continue is also a worrying factor
for the market.
And Taiwan lowered its November shipping schedule, these factors are bearish PVC, and it is expected that PVC rebound space will be limited
in the short term.
The possibility of maintaining weak volatility and shifting the center of gravity in the future market is more likely, and operationally, it is recommended that investors hold short orders with caution
.