PVC main contract range volatility The downside is expected to be limited

News: According to China Chlor-Alkali Network, on October 4, the cracking gas compressor unit of Zhejiang Petrochemical's 1.
4 million tons/year ethylene plant undertaken by Sinopec Refining and Chemical Engineering Shijian Company was successfully commissioned, marking that the project has entered the start-up stage
.

Upstream raw material market: the mainstream price of calcium carbide market in northwest China is 3100 yuan / ton, -25; the mainstream price in Shandong in North China is 3295 yuan / ton, 0
.
The price of CFR Far East in the Asian VCM market is 720 US dollars / ton, 0; CFR Southeast Asia is 750 US dollars / ton, 0
.

Spot market: PVC spot market trading is general
.
The mainstream price of SG-5 type East China spot market is 6680 yuan / ton, -20; the mainstream price of SG-5 in South China market is 6750 yuan / ton, -30
.

Warehouse receipt inventory: exchange warehouse receipts reported 6430 lots, intraday -100 lots, in the historical high area
.

Main position: The top 20 long positions in the main contract are 126434 lots, +1597 lots, short positions are 115800 lots, +2516 lots, and net positions are 10634 lots, net long decrease
.

Summary: In the second half of the National Day, the environmental protection production restriction policy was lifted one after another, the pressure of calcium carbide transportation was eased, the upstream start procurement may be improved, and the increase in production led to an increase in polyvinyl chloride inventory, but the increase in maintenance enterprises this week eased the accumulation phenomenon during the holiday
.
There is little change in the downstream, and some enterprises still maintain the habit
of low inventory stocking.
The main contract of V2001 is range-bound during the day, the current price is at the low level since the second half of the year, the KDJ indicator is in the oversold zone, and the downside is expected to be limited
.
In the medium and long term, assuming that downstream demand has not improved, prices are expected to continue to fluctuate widely
.
Continue to focus on support around 6340 below, and it is recommended that short orders in hand can be reduced on the dip
.