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As of 8.
30, PVC prices fluctuated downward throughout the day
.
Although Saudi Arabia's attitude shows its determination to maintain oil prices, at the same time, there are expectations of recession under the Fed's interest rate hike; Affected by the epidemic and unexpected shutdowns, the supply-side reduction increased slightly; PVC itself, although the traditional peak season expectation exists, the current terminal demand situation is still sluggish
.
Futures market: as of 8.
30, the main force of PVC closed at 6245 yuan / ton, down 1.
08% from the previous month; Top 20 main long positions: 280668 (+9354), short positions: 311993 (+4379), net short positions: 31325 (-4665).
Spot and enterprise dynamics: as of 8.
30, East China (calcium carbide method) quotation: 6490 yuan / ton (-140); South China (calcium carbide method) quotation: 6580 yuan / ton (-125); Xinjiang Zhongtai Chemical PVC plant Midong plant parking, Fukang plant started 7-8 percent, currently maintaining pre-sale, 5 calcium carbide East China wire transfer library quotation at 6800 yuan / ton; Lutai Chemical's 360,000-ton PVC plant started 6-70%, the price was reduced, and the 5-type factory reported 6460 yuan / ton in cash
.
Basis: 8.
30 South China basis +335; East China basis +245; basis slightly weaker
.
Upstream raw materials: as of 8.
30, the quotation of North China calcium carbide was 4115 yuan / ton, which was unchanged from yesterday's price; Shaanxi Lanchar quoted 1490 yuan / ton, unchanged from yesterday's price
.
Intraday PVC prices fluctuated downward
throughout the day.
On the one hand, from the perspective of crude oil, too low prices stimulate Saudi Arabia, too high oil prices, excessive inflationary pressure stimulates the United States, and the later trading logic may return to the "recession"; On the other hand, although there are stimulus policies such as "guaranteeing the delivery of buildings" and LPR downward adjustment in China, PVC itself has weak supply and demand fundamentals, high inventory, and although some demand has improved, it is not enough to continue to destock; Overall, the PVC market is currently more entangled, with external recession expectations and internal policy stimulus
.
The short-term PVC futures price increase was slightly weak
.
It is expected that the price will remain weak and volatile, and it is expected to remain on the sidelines
.
