PVC oscillation weakens indicating that the upper pressure is still large

News: In March 2020, the apparent demand for domestic PVC was 1.
7355 million tons, an increase of 16.
55% from February and 3.
58%
year-on-year.
In the first quarter of 2020, the cumulative amount was 5.
0428 million tons, an increase of 1.
81%
over last year.

Spot market: Qilu Chemical City PVC market weak adjustment, intraday quotation to give up the previous day's gains, calcium carbide method 5 type material price is about 570 yuan / ton, ethylene method S1000 price is 5830 yuan / ton, S700 price is 5880 yuan / ton, the transaction situation is general
.

Warehouse receipt inventory: exchange warehouse receipts reported 2462 lots, +0 lots
within the day.
Main position: The top 20 long positions in the main contract are 140096 lots, -646 lots, short positions are 140580 lots, +3223 lots, net positions are -484 lots, net long turn net short
.

Summary: There seem to be signs of easing the overseas epidemic, and there are expectations of deregulation in many countries, which is conducive to the recovery
of market confidence due to the revival of demand recovery expectations.
In the industrial chain, the domestic PVC social inventory has decreased, and it is expected that after entering May, PVC downstream demand is expected to recover
.
In terms of raw materials, domestic calcium carbide prices continued to fall, but the decline narrowed from last week, while Asian ethylene and vinyl chloride prices rebounded
.
These factors support prices
.
However, the technical trend has weakened, indicating that the pressure above is still large, and operationally, investors can reduce their holdings at high prices and drop their pockets
.