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PVC volatility closed lower and price upside was limited

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

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The PVC1705 contract opened at 680, with a high of 6855, a low of 6720, and closed at 6790, down 50, or 0.
73%,
from the previous session.
The volume increased to 146,300 lots, and the open position decreased by 6,776 lots to 142,300 lots
.

PVC

News side: 1.
The polypropylene plant of Datang Duolun Coal Chemical Company has been shut down for maintenance since April 30, 2016, and it is currently reported that the plant
is expected to restart in early April.

Raw material prices: 1, Japan naphtha CF Japan reported 517.
5 yuan / ton, down 7; Naphtha FOB Singapore was trading at $56.
7 a barrel, down 0.
72
.
ethylene CFR Northeast Asia 1240 US dollars / ton, flat; CFR Southeast Asia was trading at $1,095/mt, up 20
.

Spot market: The price of some domestic PVC spot market is basically flat
.
North China calcium carbide law reported 6650 yuan / ton, up 140; ethylene law reported 6950 yuan / ton, up 140; East China calcium carbide law reported 6660 yuan / ton, flat
.
South China calcium carbide method reported 6600 yuan / ton, flat, ethylene method 7100 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
.

Before the Spring Festival, some enterprises pre-sold to February, and some enterprises raised the ex-factory price due to the tight supply of goods, but the downstream enthusiasm for high-priced raw materials was not high, or the upside of the price was limited
.
Technically, the PVC1705 contract closed down in volatility, the futures price tested support around 6600 below, the pressure around 6850 was tested above, and the futures price or maintained in the 6600-6850 range oscillation, recommended range trading
.

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