PVC fell slightly, and downstream demand recovered insufficiently

News: PVC social inventory decreased by 1.
36% month-on-month last week, an increase of 27.
64% year-on-year, in East China, it decreased by 0.
33% month-on-month and increased by 8.
21% year-on-year, and South China decreased by 2.
84% month-on-month and increased by 73.
73%
year-on-year.
East China stocks are 303,000 tons, South China 205,000 tons
.

The operating rate of PVC production enterprises last week was 68.
25%, down 3.
00% from the previous month and 12.
66%
lower than last year.
Among them, the calcium carbide method started at 70.
28%, down 3.
20% from the previous month and 12.
43% lower than the same period last year; The ethylene process started at 58.
75%, 2.
08% lower than the previous month and 13.
75%
lower than the same period last year.

Spot market: Qilu Chemical City PVC market sideways, intraday calcium carbide price loose 20 yuan / ton, calcium carbide method 5 type material price is about 5580 yuan / ton, ethylene method S1000 price is 5650 yuan / ton, S700 price is 5730 yuan / ton, the transaction situation is acceptable
.

Warehouse receipt inventory: exchange warehouse receipt reported 162 lots, +0 lots
within the day.
Main position: The top 20 long positions in the main contract are 144213 lots, -5151 lots, short positions are 145686 lots, +7740 lots, net positions are -1473 lots, net long to net short
.

Summary: The successful conclusion of a joint production cut agreement at the OPEC+ meeting boosted market confidence
.
However, although PVC social inventories fell slightly month-on-month, they were still much higher than the same period last year, indicating that downstream demand recovery was insufficient
.
Formosa Plastics lowered PVC prices in April, and these factors all suppressed prices to a certain extent
.
In operation, investors can settle more orders in batches and drop their bags
.