The main force of PVC fell slightly, continuing the range shock

News: In January 2020, the output of domestic PVC production enterprises was 1.
80012 million tons, an increase of 4.
94% from the previous month and 5.
30%
from the same month last year.

Spot market: Qilu Chemical City PVC market narrow downward, the price from the previous day down 30 yuan / ton, calcium carbide 5 type price in 6420 yuan / ton, ethylene Qilu S1000 price in 6570 yuan / ton, S700 price in 6670 yuan / ton, inquiries are rare, the market is relatively light
.

Warehouse receipt inventory: exchange warehouse receipts reported 4755 lots, intraday -0 lots
.
Main position: The top 20 long positions in the main contract are 151219 lots, +8448 lots, short positions are 141648 lots, +8770 lots, and the net position is 9571 lots, net long decrease
.

Summary: The introduction of domestic stimulus policies has weakened the market panic, and the operating rate of PVC manufacturers has fallen after the holiday, indicating that production enterprises have significantly reduced production
.
But PVC social stocks remain high
.
In terms of demand, after the Lantern Festival, the resumption rate of downstream enterprises is still not high, and some real estate enterprises have not yet determined the resumption time of individual real estate enterprises due to local government policy restrictions, and the resumption time is arranged
according to changes in the epidemic.
Therefore, the willingness of downstream enterprises to stock goods is weak
.
At present, it is in the off-season of PVC demand, downstream demand is insufficient, coupled with the need to delay the start of downstream construction, it is expected that the sluggish downstream demand will inhibit the price of
PVC.
It is recommended that investors can take appropriate short
positions on the high.