PVC futures prices fluctuated higher, and social inventories declined

News: 1.
Longzhong data statistics show that as of July 4, the domestic PVC social inventory was 139,400 tons, a decrease of 0.
21% month-on-month and a year-on-year decrease of 47.
99%; Among them, East China was 101,400 tons, an increase of 1.
71% month-on-month and a year-on-year decrease of 49.
80%; South China was 38,000 tons, down 5.
00% month-on-month and 42.
42%
year-on-year.
2.
According to Longzhong information statistics, the output of domestic PVC manufacturers in June 2021 was 1.
9407 million tons, an increase of 2.
21% from the previous month, an increase of 18.
26% over last year, and a cumulative increase of 15.
58%
year-on-year.
The output of calcium carbide process was 1.
5417 million tons, an increase of 3.
61% from the previous month, an increase of 14.
03% over last year, and a cumulative increase of 11.
69% year-on-year; The ethylene process output was 399,000 tons (excluding Jiahua's June test output), an increase of 2.
70% from the previous month, an increase of 38.
01% over last year, and a cumulative increase of 34.
51%
year-on-year.

Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 9100 yuan / ton, +0
.

Warehouse receipt inventory: 1483 warehouse receipts, -0 sheets
.
Main positions: Top 20 long positions 294332, +13273, short positions 280959, +18481
.
Net excess decrease
.

Summary: PVC operating rate fell month-on-month last week, and market supply decreased month-on-month, but it can be higher than the same period last year
.
At present, the large-scale maintenance of PVC production enterprises has ended, and there are fewer maintenance enterprises in the later stage, and the operating rate of the PVC industry as a whole shows a rebound trend
.
Formosa Plastics lowered its July cargo quotation, PVC downstream products enterprises are still differentiated, soft products are better than hard products
.
Affected by environmental protection restrictions and demand off-season, some continue to reduce the operating rate, and most profile enterprises in North China, East China, South China and Northwest China are at the lower middle starting level
.
Domestic PVC social inventories have decreased month-on-month, indicating that there is little pressure on production enterprises
.
Intraday V2109 contract volume increased positions to the upside, indicating that bulls still have the advantage
.