PVC weakness continues to support weakly

At present, the contradiction between PVC supply and demand has not changed much, the negative factors are mainly because the current maintenance of PVC equipment is not as good as the maintenance level of the same period last year, and the high social inventory digestion is limited, in addition, the PVC industry still has a certain processing profit, providing some space
for the downward trend of prices.

The PVC1705 contract opened at 6285, with a high of 6320, a low of 6095, and closed at 6155, down 105, or 1.
68%,
from the previous session.
The volume increased to 94,500 lots, and the open position increased by 2,980 lots to 83,800 lots
.

Some domestic PVC spot market prices fluctuated and closed down
.
North China calcium carbide law reported 6240 yuan / ton, down 20; ethylene law reported 6490 yuan / ton, down 10; East China calcium carbide law reported 6220 yuan / ton, down 30
.
South China calcium carbide method reported 6250 yuan / ton, flat, ethylene method 6800 tons, flat
.
The price of raw materials was basically flat, East China reported 3,000 yuan, flat, and Northwest reported 2,600 yuan, flat
.

However, in the medium and long term, the PVC supply and demand pattern is likely to improve, the scope of maintenance in April will increase compared with March, the supply has a downward trend, although the inventory is high year-on-year, if the trend of month-on-month decline can continue, the improvement of supply pressure will appear in the later stage; For now, PVC weakness continues, and improvement will need to wait until around
mid-April.