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PVC narrow finishing The short-term trend is still repeated

 Last Update: 2022-12-15
 Source: Internet
 Author: User

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Market situation: PVC narrow finishing on Friday, V1905 opened 6560 tons, the highest reported 6610 yuan / ton, the lowest reported 6535 yuan / ton, closed 6570 yuan / ton, -0.
15% from the previous trading day; 140332 volume; Position 318378, -692
.

PVC

News: CFR Far East closed at $740/mt this week, CFR Southeast Asia at $760/mt
.
Bearish expectations for PVC cargoes in April due to weak demand in India, but vinyl chloride remained firm
due to limited supply.
The 254,000-tonne-per-year vinyl chloride plant in Tojo-Yokkaichi, Japan, will be overhauled from March 9 to April 12, during which time its downstream PVC plant will operate at 60% load
.
Dongcao also plans to start an annual 49-day overhaul
of its 600,000-tonne-per-year 600,000-tonne-per-year vinyl chloride plant in Nanyang starting May 13.

Spot market: the PVC market of Qilu Chemical City still shows signs of upward adjustment, the quotation of type 5 material is raised by 20 yuan / ton, the mainstream price of calcium carbide type 5 type is 6410-6420 yuan / ton (including tax self-pickup), and the source price of ethylene material in Qilu is 6600-6750 yuan / ton
.
The price of Guangzhou PVC market is stable
.
The mainstream price of calcium carbide five-type material is 6430-6540 yuan / ton, and ethylene Dagu 1000 type 7000 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 3 lots, -0; in the historical low area, stable
during the day.
Main positions: The top 20 long positions in the main contract are 110779 -819, short positions are 111298,-463, and net long positions are -519, -356.

Fundamentally, the strong trend of crude oil has produced some support for prices, but the inventory of production enterprises remains high, and the sluggish demand for PVC downstream has suppressed prices to a certain extent
.
Technically, PVC1905 encountered obstacles to the upside, the trading volume was significantly reduced, the position volume also fell slightly, and the main force of the bulls reduced their positions slightly more than the main force of the bulls, showing that the bears were slightly superior
.
The technical indicator MACD median flattened and the KD indicator flattened at the high, indicating that the bulls' strength has weakened
.
Fundamentals and technical divergence, it is expected that the short-term trend is still repeated, operationally, it is recommended that investors reduce their holdings at high prices, and re-buy
after the pullback.

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