echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > PVC shock retreats The short-term trend is still weak

    PVC shock retreats The short-term trend is still weak

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    PVC1901 contract opened at 6740 yuan, the highest 6755 yuan, the lowest 6655 tons, closed at 6665 tons, down 25 yuan, or 0.
    37%, the volume was 211656, and the position increased by 18038 lots to 266680 lots
    .

    PVC

    News: The air separation unit area of the 600,000 tons/year coal-to-ethylene glycol project under construction in Xinjiang Tianye has entered the key equipment installation stage
    .
    The gasification and ethylene glycol plant area is accelerating the construction of the main body and steel structure frame, and the middle section of the core equipment 6.
    5MPa Jinhua furnace equipment has been successfully entered the plant
    .
    At present, the project has entered the busy stage of civil construction and equipment installation cross-operation, and is expected to be completed and put into operation by the end of 2019, when the company's ethylene glycol production capacity will reach 950,000 tons/year
    .

    Upstream price: Naphtha CF Japan reported 688.
    38 US dollars / ton, -1.
    36%; FOB Singapore is trading at $74.
    75/b, -1.
    39%.

    ethylene CFR Northeast Asia 1120 US dollars / ton, -1.
    75%; CFR Southeast Asia was trading at $1020/mt, -1.
    92%.

    Domestic calcium carbide prices were stable, with East China reporting 3700 yuan, flat, and Northwest reported 3405 yuan, flat
    .

    Spot market: CFR Southeast Asia quoted $860, +0%; CFR China quoted $860, -0%.

    North China calcium carbide law reported 6820 yuan / ton, +0%; Ethylene method reported 6900 yuan / ton, +0%; East China calcium carbide method reported 6800 yuan / ton, -0%, ethylene method 7050 yuan, +0%; South China calcium carbide method 6900 yuan, +0%, ethylene method 7290 yuan, +0%.

    PVC1901 fell back in shock, trading volume decreased slightly, and positions continued to rise
    steadily.
    Fundamentally, the downstream demand is weak, and the rise of social inventory suppresses the futures price, but the strong calcium carbide price forms a certain support
    for the futures price.

    Technically, the median MACD level is flat, the red bar continues to shorten, and the KDJ indicator shows signs of a median turn, indicating that the short-term trend is still weak
    .
    Operationally, due to the recent weak trend of PVC and the pressure above, it remains to be seen whether a bottom will form, and it is recommended that investors wait and see for the time being
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.