PVC weak finishing prices closed slightly lower

News: PVC social inventory this week decreased by 1.
57% month-on-month, an increase of 29.
20% year-on-year, for East China, it decreased by 0.
66% month-on-month and increased by 10.
66% year-on-year, and South China decreased by 2.
93% month-on-month and increased by 73.
04%
year-on-year.
East China stocks are 301,000 tons, South China 199,000 tons
.

The operating rate of PVC production enterprises last week was 70.
10%, an increase of 1.
99% month-on-month, and 11.
98%
lower than last year.
Among them, the calcium carbide method started at 70.
24%, an increase of 0.
13% month-on-month, and 12.
79% lower than the same period last year; The ethylene process started at 69.
44%, an increase of 10.
69% month-on-month and a year-on-year decrease of 8.
23%.

Last week, due to the decline in calcium carbide prices, the cost of domestic calcium carbide method was 5180 yuan / ton, down 70 yuan / ton from the previous week, and the profit of calcium carbide method was 220 yuan / ton, an increase of 20 yuan / ton from last week; The cost of ethylene method was 4560 yuan / ton, down 240 yuan / ton
from the previous week.
The ethylene profit was 940 yuan / ton, an increase of 340 yuan / ton
from last week.

Spot market: Qilu Chemical City PVC market weak operation, today's price down 10-20 yuan / ton, calcium carbide method 5 type material price is about 5550 yuan / ton, ethylene method S1000 price is 5650 yuan / ton, S700 price is 5720 yuan / ton, the transaction situation is general
.

Warehouse receipt inventory: Exchange warehouse receipts reported 162 lots, +0 lots
today.
Main position: the top 20 long positions of the main contract are 135690 lots, +1121 lots, short positions are 140274 lots, +3059 lots, net positions are -4584 lots, net long turn net short
.

Summary: Global central banks have continued the strategy of quantitative easing, which has provided some positive support to economic and market confidence, but the boost effect has been limited
.
The OPEC+ joint production cut agreement failed to play a strong positive role this week, the market questioned that the scale of production cuts may not cover the scale of demand recession, the current epidemic in Europe and the United States has not yet reached the peak, the IMF this week also lowered the global GDP growth forecast, from the previous 3.
3% to -3%, these factors have suppressed
market confidence.
In the industrial chain, Asian spot prices continued to fall, domestic PVC social inventory has generally decreased, and showing a pattern of reduced production enterprises and rising regional warehouses, indicating that the goods have not been digested
.
The operating rate of downstream demand enterprises is still lower than the same period last year
.
Both vinyl chloride and domestic calcium carbide prices in Asia continued to weaken, and these factors suppressed
prices to a certain extent.