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PVC shock closed down It is recommended to go short on the high of the range

 Last Update: 2022-12-04
 Source: Internet
 Author: User

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20 cfr

ethylene dibromide

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The PVC1705 contract opened at 6550, with a high of 6570, a low of 6455, and closed at 6490, down 60 from the previous session, or 0.
92%.

The volume decreased to 126,300 lots, and the open position increased to 4,524 lots to 130,300 lots
.

PVC

Raw material prices: 1, Japan naphtha CF Japan reported 516.
75 yuan / ton, up 4.
12; naphtha FOB Singapore reported 56.
23 US dollars / barrel, up 0.
49
.
Ethylene CFR Northeast Asia is not quoted, CFR Southeast Asia is not quoted
.

Spot market: The price of some domestic PVC spot market is basically flat
.
North China calcium carbide law reported 6300 yuan / ton, up 20; ethylene law reported 6740 yuan / ton, flat; East China calcium carbide law reported 6400 yuan / ton, flat
.
South China calcium carbide method reported 6350, flat, ethylene method 6950 tons, flat
.
The price of raw materials was basically flat, with East China reporting 3,310 yuan, flat, and Northwest reporting 3,000 yuan, flat
.

The Spring Festival is approaching, the middle and lower reaches are basically stopped, the spot market quotation is not much, and the futures price is temporarily premium spot, the downstream is still in the off-season after the holiday, but the overall inventory is not much, the fundamentals lack guidance, it is expected that the price increase momentum is limited, and the short-term maintenance range shock
.

Technically, the PVC1705 contract closed down in shock, the futures price tested the support around 6300 below, the pressure around 6600 was tested above, and the futures price or maintained in the 6300-6600 range oscillation, it is recommended to take a short
position in the range.

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