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The fundamental situation has not changed much, and PVC shows a range-bound trend

 Last Update: 2022-12-25
 Source: Internet
 Author: User

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Futures market: as of 7.
28, the main force of PVC closed at 6772 yuan / ton (+3.
15%); Top 20 main long positions: 325360 (-211), short positions: 339964 (+839), net short positions: 14604 (+433).

PVC

Spot: as of 7.
28 East China (calcium carbide method) quotation: 6730 yuan / ton (+180); South China (calcium carbide method) quotation: 6765 yuan/ton (+110).

Blue charcoal: as of 7.
27 days, Shaanxi 1418 yuan/ton (0).

calcium carbide: as of 7.
27 days North China 4190 yuan / ton (+30).

As of 7.
28, the Fed's interest rate decision raised interest rates by 75BP, which was basically in line with market expectations
.
The interest rate hike market interpreted as a temporary exhaustion, coupled with the improvement of domestic macro, the overall commodity index rebounded
greatly.
Affected by this, the relevant crude oil chain varieties showed a large rebound
.
From the overall commodity market atmosphere, the early bearish atmosphere has been initially released
.

The rate hike hammer landed, in line with market expectations
.
Domestic commodities showed a rebound trend
.
From the current PVC fundamentals, calcium carbide and blue charcoal prices are relatively stable, PVC operating rate and social inventory are still at a high level
.
Its own fundamentals have not changed much, and we believe that this rally is the result of more rate hike expectations
.
The overall commodity pessimism atmosphere was released
.
The later trend should pay more attention to the recovery of
domestic demand.
Our view remains cautious or "range-bound"
.

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