Downstream demand is sluggish PVC main narrow finishing

News: In 2019, the dependence on PVC imports was only 3.
33%, so the impact of foreign public health emergencies on the domestic PVC supply side is extremely limited
.

Spot market: Linyi PVC market is running weakly, the market offer continues to loosen, the delivery price is about 6200-6300 yuan / ton, and the transaction is less
.

Warehouse receipt inventory: exchange warehouse receipts reported 4740 lots, intraday -0 lots
.
Main position: The top 20 long positions in the main contract are 169108 lots, -4537 lots, short positions are 152416 lots, -8695 lots, and the net position is 16692 lots, a net increase
.

Summary: The introduction of domestic stimulus policies has weakened market panic, and the initial control of the epidemic has also eased market worries
.
However, the operating rate of PVC manufacturers has rebounded, and the market supply is still increasing, although PVC downstream product enterprises have begun to resume work
one after another.
However, local government approval is still strict, the resumption of work in many places is slow, and PVC social inventory remains high
.
Sluggish downstream demand is expected to dampen the rebound height
of PVC.
The future market focuses on the support of the 6275 line, and operationally, it is recommended that investors can reduce their holdings
at high prices.