PVC futures fluctuated at a low level, and the short-term center of gravity may continue to dip

PVC upstream warehouse inventory and social inventory remain at a high level, and the market supply is abundant
.
Spot prices in the international market are weak, and the domestic export window remains closed (unable to achieve the purpose of reducing the pressure on domestic sales through exports).

The demand side is currently in the stage of strong month-on-month under the influence of the "guaranteed delivery of buildings" policy, but as the weather turns cold, the north and other places will gradually enter the traditional seasonal off-season, and poor real estate data is difficult to effectively boost the medium- and long-term demand for PVC products
.

The new production capacity on the supply side is relatively concentrated, and there are insulation requirements for the winter device, and it is difficult for the starting load of the supply side to fall
significantly.
At present, the macro atmosphere is weak, and industrial products have shown an overall weak situation since entering October, paying attention to the Fed's interest rate decision on November 1-2, press conference and domestic real estate data
.

Terminal demand has not improved, PVC market inventory remains high, East China and South China social inventory reached 368,200 tons, 87.
38%
higher than the same period last year.
After the PVC export arbitrage window is closed, export orders are reduced, and the pulling effect of foreign trade is weakened
.
Before there is no significant improvement on the demand side, it is difficult for the PVC market to start destocking, the fundamentals are weak, the short-term center of gravity or continue to explore, temporarily pay attention to the 5800 mark support
.