The market trading atmosphere is moderate, and the main force of PVC is rebounding

News: As of September 12, the domestic PVC social inventory fell by 6.
51% month-on-month and was 16.
3% higher than the same period last year; East China decreased by 7.
17% month-on-month and 12.
3% year-on-year high; South China decreased by 2.
63% month-on-month and 4%
higher than last year.
East China 207,000 tons, South China 37,000 tons
.

As of September 12, the operating rate of PVC production enterprises was 81.
78%, an increase of 6.
26% month-on-month and a year-on-year decrease of 0.
23%; Among them, the start of calcium carbide method increased by 5.
8% month-on-month and 2.
06% year-on-year; The ethylene method increased by 8.
96% month-on-month and decreased by 11.
16%
year-on-year.
Mainly Huasu, Huasu, LG, Qilu, Yinguang, Yili and other equipment maintenance ended to increase the operating load, while Ningbo Formosa Plastics maintenance pulled down the ethylene method year-on-year data
.

Spot market: The domestic PVC market transaction is acceptable
.
Market merchants are mainly active in shipments, downstream enterprises just need to accept orders, the enthusiasm of inquiry is acceptable, and the transaction situation has improved
.
At present, the mainstream of type 5 in East China is 6650-6800 yuan / ton, the mainstream of type 5 in South China is 6780-6900 yuan / ton, and the mainstream of type 5 in Hebei is 6640-6740 yuan / ton
.

Warehouse receipt inventory: Exchange warehouse receipts reported 9304 lots, +475 lots, which is in the historical high area
.
Main position: The top 20 long positions in the main contract are 144533 lots, +12678 lots, short positions are 113466 lots, +10873 lots, and the net position is 31067 lots, net long increases
.

Summary: Affected by the attack on two important oil fields in Saudi Arabia, market investors are worried about the tight supply of crude oil in the future, so that the chemical products out of a strong market, and since September, affected by the peak of production equipment maintenance, the market supply has decreased, and the social inventory of PVC has continued to fall
.
This supports the price of PVC to a certain extent
.
However, the current PVC downstream demand is still relatively sluggish
.
Domestic real estate development investment has been at a high since April, and the growth rate has fallen
for four consecutive months from May to August.
From January to August, real estate development investment increased by 10.
5% year-on-year, down 0.
1 percentage points from the previous value, indicating that PVC downstream demand recovered slowly
.
In addition, the spot market traded calmly and prices were stable
.
Downstream goods increased slightly, and the transaction atmosphere was mild
.
However, affected by the environmental protection and production restriction policy in the Beijing-Tianjin-Hebei region, it is expected that it will be difficult to improve in the short term, and the demand will have limited price pull
.
At present, PVC is entangled in long and air, and does not have the power
to continuously rush high.
In terms of operation, in case of a sharp rise, it is recommended that investors can reduce their holdings at the high and take them back
after the price returns.