Market panic has abated and PVC volatility has risen

News: Domestic PVC production in March 2020 was 1.
7624 million tons, an increase of 18.
31% from February and 5.
03% from last year; The cumulative output from January to March was 5.
0422 million tons, 1.
87%
year-on-year.

Spot market: The PVC market in Qilu Chemical City continued to decline
.
The price of calcium carbide type 5 is 5130 yuan / ton, the price of ethylene Qilu S1000 is 5180 yuan / ton, and the price of S700 is 5280 yuan / ton.

Warehouse receipt inventory: exchange warehouse receipts report 0 lots, intraday -0 lots
.
Main position: The top 20 long positions in the main contract are 127912 lots, +10211 lots, short positions are 118435 lots, +8987 lots, and net positions are 9477 lots, net long increases
.

Summary: The accelerated spread of the epidemic abroad has caused concern, and social inventories are still high, indicating that the market is still oversupplied
.
Formosa Plastics lowered PVC prices in April, and these factors suppressed
prices to a certain extent.
But market rumors say that Trump is scheduled to meet with the heads of some of the largest U.
S.
oil companies on Friday to discuss how to help oil companies weather the storm, and according to sources, Saudi Arabia will also support cooperation between oil producers to stabilize the oil market
.
As a result, market panic has abated
.
Shenhua's online auction transaction volume has also increased
significantly.
The future market focuses on whether the above two news can be implemented, and operationally, investors can set a take profit in their hands and hold
them cautiously.