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On Tuesday, the PVC V2105 contract reduced its position, and the futures price rushed back down, closing at 8610 yuan on the day, +160 yuan from the previous trading day; Volume 660792 lots, open position 322117 lots, -35835, basis 340
.
News: 1.
In 2020, the increase and resumption of calcium carbide PVC production will be 920,000 tons, and the demand for calcium carbide will be 1.
3 million tons, but the increase in calcium carbide production in 2020 will only be 320,000 tons, and the growth rate of calcium carbide production capacity is not as high as the demand growth
of PVC production capacity.
2.
Longzhong data shows that the operating rate of calcium carbide method of PVC production enterprises in the last cycle was 87.
33%, an increase of 2.
83% month-on-month and 15.
44% year-on-year; During this week, the operating rate of calcium carbide method of PVC production enterprises is expected to exceed 88%, and the continuous high calcium carbide method start is the main reason
for the shortage of calcium carbide market.
Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 8580 yuan / ton, +580
.
Warehouse receipt inventory: 9869 warehouse receipts, +200 sheets
.
Main positions: Top 20 long positions 210806, -20147; short positions 235608, -23529
.
Reduced
headroom.
Summary: During the long holiday, the United States suffered from extreme cold shock, resulting in large-scale power outages, and the production load of many PVC-related installations decreased
.
In Europe, the PVC plant Tavaux was shut down due to a production line failure and the date of reopening was undecided
.
South Korea, Taiwan, and India also have shutdowns and maintenance, and the tight global PVC supply situation continues during
the long holiday.
The Indian market price jumped more than $50/mt, and the CFR India price exceeded $1400/mt
.
Domestically, during the long holiday, domestic PVC production enterprises started normally, and downstream enterprises were affected by the New Year in the place of employment, and the downstream operating rate is expected to recover
early.
However, after a sustained sharp rise, PVC has signs of overbought in the short term, and the short-term need to prevent a technical pullback.