PVC futures prices run weakly The market remains cautious

Futures market: as of 8.
22, the main force of PVC closed at 6270 yuan / ton, up 2.
75% from the previous month; Top 20 main long positions: 278768 (-603), short positions: 304501 (-5415), net short positions: 25733 (-2254).

Spot and enterprise dynamics: as of 8.
23 East China (calcium carbide method) quotation: 6580 yuan / ton (-20); South China (calcium carbide method) quotation: 6665 yuan / ton (-25); Xinjiang Zhongtai Chemical PVC plant Midong plant started about 50%, Fukang plant started 7-80%, other plants slightly adjusted, currently maintain pre-sale, 5 type calcium carbide East China wire transfer library quotation at 6800 yuan / ton; Shandong Dongyue's 120,000-ton PVC plant started about 50%, the price was stable, and the 5-type factory reported 6500 yuan / ton in foreign exchange
.

Upstream production profit: as of 8.
23 Northwest chlor-alkali profit of 739 yuan / ton, no change
from the previous day.
Shandong chlor-alkali profit was 533.
55 yuan / ton, down 9.
37 yuan / ton
from the previous day.
Basis: 8.
23 South China Basis +391; East China Basis +396; Basis Strengthening
.
Upstream raw materials: as of 8.
23, North China calcium carbide quotation 4495 yuan / ton, Shaanxi Lan charcoal quotation 1410 yuan / ton, unchanged from yesterday's price
.

The futures market has boosted confidence due to the favorable release of the guaranteed delivery and the LPR reduction, but the continued rebound of PVC prices requires an inflection point in inventories and an improvement
in downstream demand.
However, it is still in the stage of weak supply and demand, high inventory is difficult to digest, and PVC rebound height or limited
.
In the short term, the fundamentals of PVC itself are calm, and the price operation of PVC maintains a "range-bound" view and maintains a cautious attitude
.