PVC futures fell back to adjust the market wait-and-see

Since the end of May, although PVC futures have risen by more than 8,800 yuan / ton, spot trading and basis have been deteriorating, and the downstream is insufficient
in terms of orders and confidence.
Looking at the medium view, although the real estate industry has improved month-on-month since the policy stimulus, it is still tepid, with a significant year-on-year decline and less than expected
.

Weekly data on June 9 showed that the overall starting load of PVC this week was 77.
97%, an increase of 0.
51 percentage points from the previous month; of which the calcium carbide PVC starting load was 78.
74%, an increase of 1.
51 percentage points
from the previous month.
In June, there were still relatively many upstream maintenance enterprises, and some enterprises related supporting calcium carbide had export sales, coupled with the overall operating load of calcium carbide industry has increased, the overall supply of calcium carbide is still excessive, but the cost pressure of calcium carbide plants continues to increase, and it is expected that calcium carbide prices will still have a stable and slightly reduced performance
.

On the demand side of PVC, due to poor real estate data and the expected impact in South China, it is difficult to see a significant increase in the start load in the short term, and the downstream is cautious and wait-and-see, the enthusiasm for chasing up is not high, the transaction is general, and the fundamentals are relatively weak
.
Favorable policy support still exists, but the market confidence is slightly insufficient under the relatively weak fundamentals, and futures are weakened under pressure from the 8800 line, and it is recommended that participants pay attention to the 8500 line of support
in the short term.