PVC rebounded slightly It is recommended to wait and see for the time being

News: Longzhong statistics show that as of the week of June 29, the domestic PVC social inventory decreased by 1.
72% month-on-month, 9.
24% year-on-year, as far as East China was concerned, it decreased by 2.
90% month-on-month and 15.
19% year-on-year, and South China increased by 1.
2% month-on-month and 9.
09%
year-on-year.
East China stocks are 201,000 tons, South China 84,000 tons
.

Spot market: Qilu Chemical City PVC market sideways, calcium carbide method 5 type material price is about 6300 yuan / ton, ethylene price narrow fluctuations, S1000 price in 6640 yuan / ton, S700 price in 6790 yuan / ton, the transaction situation is general
.

Warehouse receipt inventory: exchange warehouse receipts reported 461 lots, intraday -0 lots
.
Main position: The top 20 long positions in the main contract are 133336 lots, -1993 lots, short positions are 118205 lots, +2773 lots, and the net position is 15131 lots, net long decrease
.

Summary: Recently, crude oil has maintained a high volatility pattern, but the epidemic in the United States seems to have been repeated, which is expected to hit
market confidence.
Fundamentally, crude oil fluctuated at a high level, and the price of vinyl chloride in Asia rebounded
.
The maintenance of domestic production enterprises continued
.
However, a significant increase in imports in May is expected to increase supply pressure
in the market.
On the demand side, in April, the domestic real estate market rebounded slightly, while the infrastructure industry also boosted the demand for
PVC to a certain extent.
The decline in PVC operating rate, the continued decline in social inventory month-on-month, and Formosa Plastics' increase in July quotations all supported
the price of PVC.
The market focuses on the upside pressure
.
Operationally, it is recommended to wait and see for the time being
.