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PVC market supply tightness eased limited room for decline

 Last Update: 2022-12-04
 Source: Internet
 Author: User

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The PVC1705 contract opened at 5990, with a high of 6150, a low of 5950, and closed at 6135, up 70 from the previous session, or 1.
15%
per day.
The trading volume decreased to 280,900 lots, and the position volume was seen from 22,968 lots to 147,300 lots
.

PVC

News side: 1, Ningxia Yinglite PVC sales quotation was lowered, type 5 at 5900 yuan / ton, type 3 6000 yuan / ton, real negotiation, factory area 250,000 tons / year equipment normal production
.

Raw material prices: 1, Japan naphtha CF Japan reported 502.
5 yuan / ton, up 4.
5; naphtha FOB Singapore reported 53.
95 US dollars / barrel, up 0.
48
.
Ethylene CFR Northeast Asia was flat at $1140/mt, while CFR Southeast Asia was flat at $980/mt
.

Spot market: The price of some domestic PVC spot markets fell
.
North China calcium carbide law reported 6150 yuan / ton, down 80; ethylene law reported 6740 yuan / ton, down 10; East China calcium carbide law reported 6250 yuan / ton, down 50
.
South China calcium carbide method reported 6200, down 100, ethylene method 7200 tons, down 120.

The price of raw materials was basically flat, with East China reporting 3,310 yuan, flat, and Northwest reporting 3,000 yuan, flat
.

The northern weather turned cold building materials demand into the off-season impact, downstream procurement enthusiasm slowed down, coupled with environmental inspection, downstream products enterprises shutdown impact, market supply gradually tightened, coupled with the impact of new production capacity and real estate regulation, it is expected that PVC upward momentum is insufficient, but enterprises jointly intend to jointly quote, it is expected that the decline space is limited
.
Technically, PVC1705 volatility closed higher, futures price below test support around 6000, above test pressure around 6200, short-term futures price maintained in the 6000-6200 range oscillation, recommended range trading
.

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