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PVC opened slightly higher and long singles reduced their holdings at high prices

 Last Update: 2022-12-10
 Source: Internet
 Author: User

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high volatility

oil barrel volume

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PVC1809 contract opened at 6900, the highest 6945 yuan / ton, the lowest 6865 yuan / ton, closed at 6880 yuan / ton, up 25 yuan, or 0.
36%, from the previous trading day, the volume was 198586 lots, and the position decreased by 10090 lots to 310014 lots
.

PVC

News: As of May 3, the price of CFR Far East vinyl chloride fell by $10/ton to $740/ton, and CFR Southeast Asia held steady at $780/ton
.
Sentiment in the Asian vinyl chloride market is more divergent, and buyers are more motivated to buy after the contract price in May is 50-60 US dollars / ton lower than in April, but with the strong trend of China's domestic PVC market, vinyl chloride sellers are reluctant to sell
at lower prices.

Upstream price: naphtha CF Japan reported 630.
25 US dollars / ton, up 0.
12%; FOB Singapore was flat at $69.
87 a barrel
.
ethylene CFR Northeast Asia 1260 US dollars / ton, flat; CFR Southeast Asia was trading at $1195/mt, up $
25.
Domestic calcium carbide prices were stable, with East China reporting 3370 yuan, flat, and Northwest reporting 3060 yuan, flat
.

Spot market: CFR China was flat at $940, CFR Southeast Asia was flat at $940; North China calcium carbide law reported 6800 yuan / ton, flat; Ethylene law reported 6950 yuan / ton, unchanged; East China calcium carbide method reported 6900 yuan / ton, up 20 yuan, ethylene method 7150 yuan / ton, flat; South China calcium carbide method 6850, flat, ethylene method 7160 yuan, flat
.

The PVC1809 contract opened slightly higher, relying on the five-day line to narrow throughout
the day.
It shows that the bulls still have a slight advantage
.
Fundamentally, the trend of crude oil is strong, the peak of equipment maintenance, and the acceleration of traders' destocking have formed a certain support
for futures prices.

Technically, the MACD red column shows signs of flattening, and KDJ has diverged, and the short-term needs to guard against technical adjustments
.
In terms of operation, investors have long orders to reduce their holdings at high prices, and will take them back
after adjustment.

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Responsible editor: Wu Qinshu

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