PVC futures are weakly sorted out, and market demand has not improved much

Futures market: as of 9.
26, the main PVC closed at 6104 yuan / ton, up 0.
07% from the previous month; Top 20 main long positions: 373691 (-11487), short positions: 451958 (-24911), net short positions: 78267 (-14289).

Spot and enterprise dynamics: as of 9.
26, East China (calcium carbide method) quotation: 6300 yuan / ton (-60); South China (calcium carbide method) quotation: 6420 yuan / ton (-35); Formosa Plastics Ningbo 400,000 tons of PVC plant started construction of about 90%, the current goods are small, the intraday quotation is stable, the surrounding terminal delivery price: S60/S65 around the spot remittance is reported 6950 yuan / ton, S70 around the spot remittance is 7050 yuan / ton; The 400,000-ton unit of Ningxia Jinyuyuan PVC new plant began maintenance on September 18 and is scheduled to start up
on September 28.
The quotation within the day was lowered, and the 5-type calcium carbide acceptance factory was 6000-6050 yuan / ton, and the 3-type high was 200 yuan / ton, and the order was generally
received.

Basis: as of 9.
26, South China basis +316; East China basis +196; basis slightly weakened
.
Upstream raw materials: as of 9.
26, the quotation of North China calcium carbide was 4060 yuan / ton, which was unchanged from the previous day's price; Shaanxi Lanchar quoted 1480 yuan / ton, no change
from the previous day's price.

PVC is currently in the traditional demand season, but the order improvement is not strong, the market's expectations for the "golden nine silver ten" are gradually declining, and the upstream start in the later stage, the factor of weakening demand is expected to increase
.
However, combined with the current time, it is not ruled out that the spot market before and after the National Day will be
replenished.
It is difficult to significantly improve
the fundamentals of short-term PVC.