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PVC position reduction and release volume The futures price rushed back down

 Last Update: 2022-12-19
 Source: Internet
 Author: User

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On Thursday, the PVCV2009 contract reduced its position, and the futures price rushed back down
.
The close of the day was 6540, -0.
83% from the previous trading day; Volume 164217 lots, open position 162346 lots, -2441, basis 60
.

PVC

News: 1.
The profit in East China this week was 1102 yuan / ton, an increase of 44 yuan / ton from last week; The ethylene profit was 465 yuan / ton, an increase of 150 yuan / ton
from last week.

Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 6600 yuan / ton, +0
.
Warehouse receipt inventory: 338 warehouse receipts, +0
.

Main positions: Top 20 long positions 110211, -2399, short positions 118582, -798
.
Increased
headroom.

Summary: Asian demand is basically stable, and Formosa Plastics raised its quotation in August to support
PVC.
Domestically, the maintenance of domestic production enterprises continued
.
Market supply is expected to decrease
.
In terms of demand, in May, the apparent demand for PVC increased year-on-year and was higher than the same period last year, indicating that downstream rigid demand is still there
.
Social inventories continued to fall, indicating that PVC downstream demand recovered well, supporting the price of PVC
.
However, demand in areas affected by flooding in the near future will weaken
.
Operationally, it is advisable
for investors to wait and see for the time being.

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