PVC narrow finishing It is recommended to wait and see for the time being

News: The apparent consumption of PVC in May 2020 was 1.
7726 million tons, an increase of 14.
68% month-on-month and 10.
60% year-on-year; From January to May, the total was 8.
3611 million tons, an increase of 2.
11%
year-on-year.

Spot market: Hebei market quotation is stable, the current Hebei area 5 material delivery price of 6120-6230 yuan / ton delivery, Inner Mongolia source of goods factory tax including tax self-raised price of 5950-6030 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipt reported 429 lots, intraday -32 lots
.

Main position: The top 20 long positions in the main contract are 132377 lots, -999 lots, short positions are 116481 lots, -1724 lots, and the net position is 15856 lots, which is a net long increase
.

Summary: Recently, crude oil has maintained a high volatility pattern, but the epidemic in the United States seems to have been repeated, which is expected to hit
market confidence.
Fundamentally, crude oil fluctuated at a high level, and the price of vinyl chloride in Asia rebounded
.
The maintenance of domestic production enterprises continued
.
However, a significant increase in imports in May is expected to increase supply pressure
in the market.
On the demand side, in April, the domestic real estate market rebounded slightly, while the infrastructure industry also boosted the demand for
PVC to a certain extent.
The decline in PVC operating rate, the continued decline in social inventory month-on-month, and Formosa Plastics' increase in July quotations all supported
the price of PVC.
The market focuses on the upside pressure
.
Operationally, it is recommended to wait and see for the time being
.