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    Home > Chemicals Industry > New Chemical Materials > PVC high opening volatility The market is still oversupplied

    PVC high opening volatility The market is still oversupplied

    • Last Update: 2022-12-18
    • Source: Internet
    • Author: User
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    The PVCV2009 contract opened high and volatile on Tuesday, closing at 5490 yuan / ton, +185 yuan from the previous trading day; Volume 185068 lots, -127965 lots; Position 185225 lots, +6660 lots, basis 0 yuan, +95 yuan; 5-9 spreads 10 yuan, -20 yuan
    .

    PVC

    News: Longzhong Information reported on April 7: PVC social inventory last week decreased by 2.
    09% month-on-month, increased by 25.
    92% year-on-year, in terms of East China, it decreased by 5% month-on-month and increased by 4.
    83% year-on-year, and South China increased by 2.
    43% month-on-month and 77.
    31%
    year-on-year.
    East China stocks are 304,000 tons, South China 211,000 tons
    .

    Longzhong data shows that the domestic PVC output in March 2020 was 1.
    7624 million tons, an increase of 18.
    31% from February and 5.
    03% from last year; The cumulative output from January to March was 5.
    0422 million tons, 1.
    87%
    year-on-year.

    Spot market: Hebei market quotation sharply raised, downstream procurement increased, the current Inner Mongolia 5 type material including tax price 5510-5580 yuan / ton delivery, Inner Mongolia source factory factory tax including tax self-raised price 5380-5430 yuan / ton, excluding tax self-raised price 5050-5100 yuan / ton
    .

    Warehouse receipt inventory: exchange warehouse receipts reported 102 lots, intraday +60 lots
    .
    Main positions: The top 20 long positions in the main contract are 132584 lots, +5387 lots, short positions are 127792 lots, +5059 lots, and the net position is 4792 lots, a net long increase
    .

    Summary: Social inventories are still high, indicating that the market is still oversupplied
    .
    Formosa Plastics lowered PVC prices in April, and these factors suppressed
    prices to a certain extent.
    However, the postponement of the OPEC+ meeting may cause market concerns about whether oil producers can reach a joint production reduction agreement, and the absolute value of domestic two barrels of oil and petrochemical inventories is still high, indicating that downstream demand has not fully recovered, which has suppressed
    prices to a certain extent.
    However, the upward momentum of the overseas epidemic has shown signs of slowing down, and the market panic has weakened
    .
    Domestic petrochemical enterprises have significantly increased their ex-factory prices, which has also provided certain support
    to prices.
    Whether the key OPEC+ meeting in the future market can reach an agreement on the production reduction agreement, operationally, investors can set a take profit in their hands and hold
    it cautiously.

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