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The PVC1901 contract opened at 6400 yuan, the highest 6420 yuan, the lowest 6330 tons, and closed at 6340 tons, up 45 yuan, or 0.
71%, the volume was 163634, and the position decreased by 6364 lots to 255862
.
News: As of November 21, the price of CFR China's PVC main port increased by $10/ton from last week to $860/ton, the price of CFR India's main port rose $5/ton to $910/ton, and the CFR Southeast Asian main port rose $10/ton to $860/ton
.
Taiwan's Formosa Plastics producer raised its December shipping schedule quotation by $20/mt, with sellers saying the market was tight and demand remained stable
.
China is affected by the cold winter climate, and demand is weaker than the Indian market, which started buying demand after Diwali
.
Asian PVC prices have stopped falling and stabilized, which is expected to provide some support
to domestic PVC prices.
Upstream price: naphtha CF Japan reported $546.
12/mt, +0.
16%; FOB Singapore is trading at $58.
49/b, +0.
38%.
ethylene CFR Northeast Asia 1040 USD/ton, +0.
97%; CFR Southeast Asia is trading at $950/mt, +1.
06%.
Domestic calcium carbide prices fell, East China reported 3340 yuan, -0%, Northwest reported 3075 yuan, -0%.
Spot market: CFR Southeast Asia at $860, +1.
18%; CFR China quoted $860, +1.
18%.
Domestic: North China calcium carbide law reported 6480 yuan / ton, -0.
31%; Ethylene law reported 6650 yuan / ton, +0%; East China calcium carbide method reported 6450 yuan / ton, +0.
47%, ethylene method 6750 yuan, -0%; South China calcium carbide method 6600 yuan, +0%, ethylene method 7200 yuan, -0%.
PVC1901 opened slightly higher, but under the pressure of the upper moving average, the futures price oscillated and retreated
.
Fundamentally, crude oil is weak, and market panic has suppressed futures prices, but social inventories have continued to fall, and after continuous decline, the short-term decline space has been limited
.
Technically, MACD edged higher, but the red bar shortened, indicating that the rebound momentum weakened, the KDJ indicator turned the median turn, and the dead cross was downward, indicating that the future market trend is not optimistic
.
In terms of operation, it is recommended that investors reduce their holdings in batches and drop their pockets
.