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Market situation: PVC strong finishing, V2001 opened 6620 yuan / ton, the highest reported 6645 yuan / ton, the lowest reported 6595 yuan / ton, closed 6635 yuan / ton, +1.
07% from the previous trading day; Volume 119768 lots, +6676 lots; Position 197922 lots, +5968 lots
.
Basis -35 yuan, +25 yuan, 9-1 spread 180 yuan, -50 yuan
.
News: As of the week of August 9, the domestic PVC social inventory continued to decline slightly, down 2.
71% month-on-month and 61.
24% higher year-on-year; East China was flat month-on-month, 86.
15% higher than last year; South China decreased by 15.
09% month-on-month and 6.
25%
year-on-year.
Social inventories have fallen, indicating that downstream demand has rebounded, which is conducive to PVC destocking
.
In early September, the plant with an annual output of nearly 500,000 tons in Mailiao was overhauled and stopped, which is expected to last for 17 days, and the supply of export goods is tight.
Formosa Plastics' export quotation in September was up $30/ton from August, CFR China at $890/ton, CFR India at $910/ton, a large amount of concessions
.
Spot market: The price of PVC market in Hebei increased slightly
.
The downstream receiving intention is general, and the transaction is just
needed.
The price of Type 5 material including tax is delivered at 6640-6750 yuan / ton, and some lower and higher prices have also been heard
.
Elion 5 type factory factory 6550 yuan / ton including tax, Oriental Hope 5 type factory factory 6470 yuan / ton
including tax.
Warehouse receipt inventory: the exchange warehouse receipt reported 2000 lots, which is in the historical median area, +0 lots
within the day.
Main positions: The top 20 long positions in the main contract are 80273 lots +4299 lots, short positions are 66280 lots, +2502 lots, and net long positions are 13993 lots, +1797 lots
.
Summary: International trade disputes have continuously affected market confidence, PVC downstream enterprises operating rate is still lower than last year, indicating that market demand recovery is slow, Asian VCM prices continue to fall, but also to a certain extent weakened the cost support of PVC
.
However, the strengthening of safety production inspections in Inner Mongolia may reduce the operating rate of production enterprises
.
India's Ministry of Finance lowered the anti-dumping duty rate is expected to increase PVC exports, Asian and American markets PVC stopped falling and rebounded, Formosa Plastics raised PVC export prices in September, and PVC social inventories continued to fall slightly, these factors supported PVC
.
It is expected that the rebound is expected to continue, and operationally, investors can set a take profit and hold it
cautiously.
