PVC narrow finishing price increased slightly

News: From January to May 2020, the loss of calcium carbide maintenance in China far exceeded the level of
the same period last two years.
The data shows that the cumulative loss of maintenance in the first five months of this year may be close to 1.
6 million tons, and close to the loss of shutdown and maintenance in 2019 of 1.
65 million tons
.
It is expected that the supply of domestic calcium carbide will be significantly reduced
in 2020.

Spot market: Qilu Chemical City PVC market weak operation, intraday price narrow adjustment, calcium carbide method 5 type material price is about 5400 yuan / ton, ethylene method S1000 price is 5520 yuan / ton, S700 price is 5560 yuan / ton, the transaction situation is general
.

Warehouse receipt inventory: exchange warehouse receipts reported 1782 lots, intraday +760 lots
.
Main position: The top 20 long positions in the main contract are 130457 lots, -1705 lots, short positions are 132714 lots, +213 lots, net positions are -2257 lots, net short increases
.

Summary: Affected by the epidemic, the global economic performance is sluggish, and the IMF has also lowered its global GDP growth forecast to -3%, which has weighed on
market confidence.
At present, the market is waiting for whether OPEC+ will continue to expand production cuts, and crude oil trend is weak
.
In the industrial chain, Asian spot prices continued to fall, and domestic PVC social inventories decreased, but the overall pattern of reduced production enterprises and rising regional warehouses showed that the goods were not digested
.
The operating rate of downstream demand enterprises is still lower than the same period last year
.
Both vinyl chloride and domestic calcium carbide prices in Asia continued to weaken, and these factors suppressed
prices to a certain extent.