The main force of PVC is strongly sorted out, and the market maintains a range-bound pattern

News: the operating rate of domestic PVC production enterprises last week increased by 1.
06% from the previous week to 79.
48%, 2.
11% lower than the same period last year; Among them, the calcium carbide method increased by 0.
21% month-on-month to 81.
21%, an increase of 0.
72% year-on-year, and the ethylene method increased by 2.
67% month-on-month to 77.
67%, down 15.
78%
year-on-year.

Spot market: Guangzhou PVC market 5 mainstream quotation 7250-7400 yuan / ton, some grades of goods are less expensive
.
Tianye / Haiping 7350, Qinghai Yihua / Salt Lake 7250, Ethylene Dagu 1000 size 7400, 800 Dagu 7250, 1300 type 7350, Dagu 700 type report 7330, Haijing 1000 type 7420
.
Shantou area salt lake 7390, sea level/sky lake 7400 yuan / ton, real negotiation
.

Warehouse receipt inventory: exchange warehouse receipts report 0 lots, intraday -0 lots
.
Main position: The top 20 long positions in the main contract are 123105 lots, +10049 lots, short positions are 112702 lots, +5550 lots, and the net position is 10403 lots, which is a net increase
.

On the supply side: the autumn centralized maintenance of upstream production enterprises has basically ended, but due to environmental protection factors, some Xinjiang enterprises have reduced production, and the market supply is basically balanced; On the demand side: real estate data
surprises.
Total investment in real estate development and sales figures for new housing starts increased
significantly from the previous year.
Although the sales area is still lower than the same period last year, it also has a more significant increase
from the previous quarter.

Raw materials: the domestic calcium carbide market price has been adjusted down regionally
.
In addition, Taiwan's downward revision of December sailing schedule quotations has put some pressure
on market psychology.
However, China and the United States are expected to cancel tariffs in phases, and the operating rate of PVC production equipment continues to rise this week, but the social inventory of PVC has decreased significantly month-on-month and year-on-year, indicating that downstream demand has recovered and the speed of destocking has accelerated
.
The decrease in imports of PVC downstream products and the increase in exports also supported prices
.
It is expected that PVC in the future market is likely to maintain a range-bound pattern
.
Operationally, it is recommended that investors wait and see for the time being
.