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The PVC1705 contract opened at 6340, with a high of 6375, a low of 6260, and closed at 6265, down 80, or 1.
26%,
from the previous session.
The volume decreased to 90,200 lots, and the open position decreased by 2,362 lots to 94,200 lots
.
Raw material prices: 1, Japan naphtha CF Japan reported 452.
25 yuan / ton, down 1; Naphtha FOB Singapore was trading at $48.
86 a barrel, down 0.
11
.
ethylene CFR Northeast Asia 1140 US dollars / ton, down 5; CFR Southeast Asia was flat at $1,035/mt
.
Spot market: The price of some domestic PVC spot markets fell
.
North China calcium carbide law reported 6280 yuan / ton, flat; ethylene law reported 6650 yuan / ton, down 20; East China calcium carbide law reported 6330 yuan / ton, flat
.
South China calcium carbide method reported 6350 yuan / ton, flat, ethylene method 6900 tons, flat
.
The price of raw materials was basically flat, East China reported 3,000 yuan, flat, and Northwest reported 2,600 yuan, flat
.
News side: 1.
Inner Mongolia Yihua PVC annual output of 300,000 tons of equipment is operating normally, the maintenance plan has been postponed to April, the manufacturer's inventory is low, the local acceptance quotation in the north is 6150 yuan / ton, the Kuti quotation in East China is 6400 yuan / ton acceptance, and the current exchange rate is 100 yuan / ton
lower.
PVC enterprises are affected by poor downstream demand, slow digestion of corporate inventory, traders make mistakes and do not sell smoothly, the futures price is favorable and the support is insufficient, and the company sells at profits, coupled with the decline in crude oil, dragging down chemical prices, short-term or maintaining weak
shocks.
Technically, the PVC1705 contract closed down in shock, short-term lower test of support around 6000, upper test of pressure around 6400, futures price or maintain in the 6000-6400 range weak oscillation, recommended range high short trading
.