PVC intraday volume reduction position narrow range sorting out of futures prices

News: 1.
Affected by the force majeure of some enterprises in the United States and the continuous epidemic in Europe, the supply of PVC in the Asian market decreased last week, and the price of PVC in Asia continued to soar, of which the market price in China and India rose to a new high in 6 years, and Southeast Asia rose to a new high in 7 years
.
2.
Longzhong Information reported on October 19: As of the end of last week, domestic PVC social inventory decreased by 7% month-on-month, an increase of 20.
08% year-on-year, as far as East China was concerned, it decreased by 6.
98% month-on-month and increased by 24.
55% year-on-year, and South China decreased by 7.
27% month-on-month and decreased by 39.
64%
year-on-year.
East China stocks are 208,000 tons, South China 20,400 tons
.
3.
Longzhong data shows that the average weekly operating rate of PVC production enterprises last week was 77.
04%, down 1.
04% month-on-month and up 0.
59%
year-on-year.
Among them, the operating rate of calcium carbide method was 76.
78%, down 1.
26% month-on-month and 0.
41% year-on-year; The ethylene process operating rate was 78.
23%, down 0.
01% month-on-month and increasing by 5.
25%
year-on-year.

Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 7050 yuan / ton, +0
.
Warehouse receipt inventory: warehouse receipts 2019, -134 sheets
.

Main positions: Top 20 long positions 156473, -5528, short positions 159648, -5136
.
Increased
headroom.

Summary: Domestic PVC social inventory is higher than the same period last year
.
And after entering the middle and late October, PVC has a new device and a plan to put into production, and it is expected that the supply will gradually increase in the later period to form a certain suppression
of prices.
However, due to the overhaul of overseas installations, Shin-Etsu will be overhauled for one month, and major European manufacturers also have maintenance plans, resulting in a decrease in PVC supply in Europe and the United States, a firm trend in overseas PVC prices, and Formosa's increase in PVC prices in November also supported prices, and these factors supported
prices.
In terms of operation, it is recommended that investors reduce their holdings at high prices and drop their pockets
.