PVC futures price opened low and rebounded, there is pressure and support below

News: 1.
Longzhong data statistics show that as of November 28, the domestic PVC social inventory was 154,700 tons, an increase of 8.
11% month-on-month and 109.
91% year-on-year; Among them, East China was 124,700 tons, an increase of 11.
24% month-on-month and 116.
12% year-on-year; South China was 30,000 tons, down 3.
23% month-on-month and up 87.
50%
year-on-year.
2.
From the perspective of domestic PVC profile products enterprises, the price of PVC powder has not changed much, and under the narrow range of shocks, product companies are cautious about the future market, waiting for the basis to return, and there are not many
large single replenishers.
The terminal demand in the north is not good, the new orders of product enterprises are limited, the start of product enterprises in the north and south is different, and there is no expectation of improvement in the north in the later period
.

Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 9250 yuan / ton, -250
.

Warehouse receipt inventory: 1596 warehouse receipts, -788 sheets
.
Main positions: Top 20 long positions 189641, -24042; short positions 188450, -40195.

Net idling to net more
.

Summary: Last week, the operating rate of PVC production enterprises reported 77.
90%, an increase of 2.
57% month-on-month and a year-on-year decrease of 1.
04%; PVC production increased slightly to 427,200 tons, up 3.
35% month-on-month and 1.
86%
year-on-year.
As calcium carbide cost prices fall, PVC companies' operating load expectations have rebounded slightly this week, and market supply is expected to increase
.
Last week, PVC downstream products enterprises started basically steadily
.
The production of plates and soft products is acceptable, and the start of hard products is weak
.
Terminal demand in the north is not good, product companies have limited new orders, and demand is expected to weaken
as the weather turns cold.
As of November 28, the domestic PVC social inventory was 154,700 tons, an increase of 8.
11% month-on-month and 109.
91% year-on-year, and the current inventory has been higher than the level of the same period last year, indicating that the recovery of downstream demand is insufficient
.
On Friday, international crude oil fell sharply, affected by this, the intraday V2201 contract opened low and rebounded, indicating that there is pressure on it and support
below.