PVC opens high and goes high, and the momentum of the large upward movement is limited

In terms of news, according to Longzhong statistics, the total inventory of PVC market in this cycle was 409,000 tons, a decrease of 5.
32% from last week and an increase of 25.
85% over last year; East China decreased by 6.
15% from last week and increased by 18.
85% year-on-year; South China decreased by 3.
25% month-on-month and increased by 46.
91%
year-on-year from last week.

In terms of the market, the PVCSG-5 spot market rose intraday, and the price rose by 100-210 yuan / ton in various regions unevenly, the quotation was in the range of 6710-6850 yuan / ton, and the ethylene method rose 50-100 yuan / ton, and the quotation was in the range of 6850-7050 yuan / ton
.
The ex-factory price in Shandong increased by 100 yuan / ton, and in East China increased by 200 yuan / ton
.

Warehouse receipt inventory, exchange warehouse receipt reported 0 lots,; It is in the historically low area and stable
during the day.
Main position: The top 20 long positions in the main contract are 147475 lots, +7993 lots, short positions are 147755 lots, 4579 lots, and net long positions are -280 lots
.

Fundamentally, the inventory of production enterprises remains high, and the sluggish downstream demand for PVC has caused a certain suppression
of prices.
However, the strong trend of crude oil has a certain support for prices, and after entering April, downstream demand is expected to accelerate recovery and also support prices, Jiangsu chemical plant rectification short-term has a certain boost to chemicals, but in the medium and long term is bearish, downstream chemical plant shutdown inhibits demand
for PVC raw materials.
Technically, PVC1909 opens high and goes high, the current KD indicator is oversold, and the futures price continues to have limited upward momentum or high volatility
.