The downstream operating rate is basically stable, and the PVC futures price fluctuates at a high level

News: 1.
Longzhong data statistics show that as of May 16, the domestic PVC social inventory was 205,700 tons, down 7.
99% month-on-month and 49.
33% year-on-year; Among them, East China was 147,500 tons, down 4.
47% month-on-month and 45.
57% year-on-year; South China was 58,200 tons, down 15.
85% month-on-month and 56.
89%
year-on-year.
2.
According to Longzhong information statistics, the total shipment of 24 PVC manufacturers in this cycle (as of May 13) increased by 5.
85% compared with last week, and after the May Day holiday, some downstream replenishment behaviors
.

Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 9450 yuan / ton, +0
.

Warehouse receipt inventory: 8049 warehouse receipts, +570 receipts
.
Main positions: Top 20 long positions 273323, -3921, short positions 241574, +53
.
Net excess decrease
.

Summary: India's epidemic is serious, demand is weakening, and due to the resumption of production of equipment suspended in the United States, export expectations are expected to increase, and Taiwan's June quotation of cargo is likely to be
lowered.
Domestic: PVC operating rate fell slightly last week, and market supply decreased
.
The operating rate of downstream enterprises is basically stable
.
However, export delivery orders have slowed down, and product companies are resistant to the high price of PVC raw materials, and the enthusiasm for stocking is not high
.
Last week, domestic PVC social inventories decreased month-on-month, indicating that there is not much
pressure on suppliers at present.
In terms of operation, it is recommended that investors reduce their holdings at high prices and drop their pockets
.