PVC main force to probe the low recovery demand has limited price pull

News: According to Longzhong data, the operating rate of PVC production enterprises in this cycle was 77.
67%, down 0.
43% month-on-month and 1.
43%
year-on-year.
Among them, the operating rate of calcium carbide method increased by 0.
42% month-on-month and decreased by 0.
41% year-on-year; The ethylene method decreased by 4.
48% month-on-month and 6.
52%
year-on-year.

Spot market: The domestic PVC plastic market trading atmosphere is general
.
Market merchants actively ship-oriented
.
Downstream enterprises just need to receive orders, the enthusiasm for stocking is general, and the transaction situation is not good
.
At present, the mainstream of type 5 in East China is 6610-6720 yuan / ton, the mainstream of type 5 in South China is 6720-6900 yuan / ton, and the mainstream of type 5 in Hebei is 6600-6710 yuan / ton
.

Warehouse receipt inventory: 8829 warehouse receipts reported on the exchange, +1626 lots within the day, which is in the historical high area
.
Main position: The top 20 long positions in the main contract are 131855 lots, +8444 lots, short positions are 102593 lots, +4435 lots, long and short increase together, net long increase
.

Summary: The operating rate of domestic PVC enterprises has declined, and the maintenance loss has increased
.
PVC social inventory continued to decline, but it remained at a high level
year-on-year.
The spot market is trading calmly and prices are stable
.
Downstream goods increased slightly, and the transaction atmosphere was mild
.
However, affected by the environmental protection and production restriction policy in the Beijing-Tianjin-Hebei region, it is expected that it will be difficult to improve in the short term, and the demand will have limited price pull
.
It is expected that the range-bound pattern
will remain in the short term.
Focus on the pressure around 6600 above, and the support
of the 6430 line below.