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On Thursday, the PVC V2109 contract contracted and increased positions, and the futures price was narrowly consolidated, closing at 8785 yuan on the day, -65 yuan from the previous trading day; Volume 354306 lots, open position 373456 lots, +4372, basis 465
.
News: 1.
In May 2021, the output of domestic PVC production enterprises was 1.
8742 million tons, a decrease of 0.
23% from the previous month, an increase of 9.
72% year-on-year, and a cumulative increase of 16.
06%
year-on-year.
The output of calcium carbide process was 1.
4857 million tons, a decrease of 4.
96% from the previous month, an increase of 15.
52% over last year, and a cumulative increase of 12.
36% year-on-year; The output of ethylene process was 388,500 tons, an increase of 2.
48% from the previous month, an increase of 46.
38% over last year, and a cumulative increase of 36.
78%
year-on-year.
2.
Longzhong data shows that the operating rate of PVC production enterprises this week was 74.
91%, a decrease of 4.
56% from the previous month and an increase of 2.
41% year-on-year; Among them, the calcium carbide method was 73.
34%, a decrease of 6.
04% month-on-month and a year-on-year decrease of 0.
45%, and the ethylene method was 81.
09%, an increase of 1.
26% month-on-month and a year-on-year increase of 13.
68%.
Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 9250 yuan / ton, -50
.
Warehouse receipt inventory: 6230 warehouse receipts, -40 sheets
.
Main positions: Top 20 long positions 267474, +2786, short positions 228995, +4381
.
Net excess decrease
.
Summary: Increased overseas supply and Taiwan's Formosa Plastics cut its June cargo quotation to suppress
Asian market prices.
Domestic: PVC operating rate fell slightly this week, and market supply decreased
.
Last week, domestic PVC social inventories decreased month-on-month, indicating that there is not much
pressure on suppliers at present.
The operating rate of downstream enterprises is basically stable
.
In South China, due to the peak shift production operating rate, the operating rate of Xinjiang enterprises continued to remain low, downstream enterprises did not have many orders, and the enthusiasm for stocking was not high
.
The National Assembly twice talked about the issue of commodity prices, which triggered market expectations for price control and suppressed
prices to a certain extent.
The intraday V2109 contract is in a narrow range, indicating that there is pressure on it and support
below.
Operationally, it is recommended that investors wait and see for the time being
.
