PVC main shock walking is expected to maintain a weak market in the future

In terms of news: in October, maintenance enterprises in the northwest region were concentrated and took a long time, and some of the sources of goods in Zhongtai and Tianye responded to the call of the national Belt and Road Initiative to sell goods abroad, while the supply of direct supply terminal factories increased, resulting in a decrease in the arrival of goods in the northwest; Coupled with the sell-off of traders in South China after the National Day, there will be a phased shortage of goods in South China in the short term, and social inventory will continue to decline
.

Spot market: PVC market prices in Changzhou area remained stable, spot less continued to support the price center of gravity, calcium carbide 5 type prices in 6730-6820 yuan / ton, Yihua quotations in 6750-6780 yuan / ton, Tianhu 6, Yinglite, Zhongyan, Jintai 6780-6800 yuan / ton, Beiyuan, Tianye, Zhongtai 6800-6830 yuan / ton; The mainstream price of ethylene 1000 type Jiangsu market is 7150-7250 yuan / ton, and the quotation of foreign sources is 7000-7100 yuan / ton
.

Warehouse receipt inventory: Exchange warehouse receipts reported 3 lots, intraday -0 lots, in the historical low area
.

Main position: The top 20 long positions in the main contract are 137834 lots, 7301 lots, short positions are 128690 lots, +8970 lots, and net positions are 9144 lots, net long reduction
.

Summary: Asian PVC market is sluggish, Taiwan lowered the December shipping schedule quotation, PVC production enterprise operating rate reported 79.
45%, an increase of 3.
18% from last week, and this year China canceled the long-term implementation of the anti-dumping policy against the United States, Japan, South Korea and Taiwan, these factors are negative PVC
。 However, China and the United States are expected to cancel tariffs in phases, and PVC plant maintenance unexpectedly increased in November, 5% higher than the same period last year, PVC social inventory fell 16% month-on-month last week, down 10% year-on-year, the speed of destocking has accelerated to boost market confidence, in addition, coal rebounded strongly, while PVC downstream imports decreased, and increased exports also supported prices
.
It is expected that PVC in the future market will still maintain a weak finishing and
downward shift pattern.
Operationally, it is recommended that investors wait and see for the time being
.