PVC workhorse contracts rebounded slightly, but space was limited

In terms of spot goods, according to Zhuochuang statistics, calcium carbide East China 6905-6995 (+11), South China 7030-7110 (+20), North China 6880-6933 (0), ethylene Magic East China 7303-7333 (0), South China 7430-7450 (0), North China 7080-7115 (0), Henan calcium carbide 3545 (+35).

PVC1901 was volatile all day today, closing at 6825 (-20, -0.
29%)
.
Positions have decreased, now holding 257,500 lots, from the perspective of the 10-day moving average pressure is huge
.

PVC recent fundamentals are good, inventories continue to decline, the latest data PVC social inventory 275,500 tons, down 1.
9%
month-on-month.

Upstream calcium carbide is tight, rising prices support PVC cost supply contraction, but there are recent signs of relief, calcium carbide may still have a local rise next week, but there will not be too much
space.

Downstream profits rebounded, and operating rates picked up
.
From a fundamental point of view, the current futures price has oversold, and there is an expectation
of rebound in the later stage.

From the disk point of view, the rebound failed for two consecutive days, was suppressed below the 10-day moving average, relatively weak, if the calcium carbide situation eases next week or there are macro risks, the price still has the possibility
of going down.
At present, the margin of safety for long and short is poor, and it is not recommended to enter
.