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On Monday, the PVC main V2005 contract was narrowly sorted, closing at 6255 yuan / ton, -15 yuan from the previous trading day; Volume 64639 lots, -1606 lots; Position 196251 lots, -1738 lots, basis -55 yuan, -5 yuan; 5-9 spreads -140 yuan, -15 yuan
.
News: PVC social inventory increased by 4.
06% month-on-month last week, 16.
59% year-on-year, 4.
62% month-on-month and 1.
93% year-on-year in East China, and 3.
16% month-on-month and 50.
94%
year-on-year increase in South China.
East China stocks are 317,000 tons, South China 196,000 tons
.
The operating rate of PVC production enterprises last week was 78.
91%, an increase of 0.
98% month-on-month and 2.
73% lower than last year; Among them, the calcium carbide method started at 80.
57%, an increase of 0.
8% month-on-month, 1.
98% lower than the same period last year, and the ethylene process started 71.
17%, 1.
84% lower than the previous month and 6.
25%
lower than the same period last year.
The start of ethylene process is low, the cost of vinyl chloride is high in the main market, and the tight supply of vinyl chloride restricts the start of ethylene process
.
Spot market: Qilu Chemical City PVC market weak downward, offer down
.
The price of calcium carbide type 5 is 5910 yuan / ton, the price of ethylene Qilu S1000 is 6020 yuan / ton, and the price of S700 is 6170 yuan / ton.
Warehouse receipt inventory: exchange warehouse receipts reported 4130 lots, intraday -0 lots
.
Main position: the top 20 long positions in the main contract are 90160 lots, -5517 lots, short positions are 72638 lots, -11132 lots, and the net position is 17522 lots, net long increase
.
The accelerated spread of the overseas epidemic has caused concern, and the weak trend of crude oil has also hit market confidence
to a certain extent.
And the operating rate of PVC production enterprises has rebounded, and social inventory is still high, indicating that the market is still oversupplied
.
Formosa Plastics' reduction in PVC prices in April also suppressed
domestic prices to a certain extent.
Although most of the PVC downstream products enterprises have resumed work, the overall operating rate is still not high
.
These factors will suppress
the price of PVC.
The future market focuses on whether crude oil can stop falling and rebound
.
In terms of operation, it is recommended that investors set a take profit for short orders in their hands and hold
them cautiously.
