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Market situation: PVC position reduction rebound, V1905 opened 6320 tons, the highest reported 6445 yuan / ton, the lowest reported 6310 yuan / ton, closed 6410 yuan / ton, +1.
75% from the previous trading day; 226718 volume; Position 280112, -34298 lots
.
In terms of news, due to lower than expected demand in the Indian market, the decline in local PVC trading led to a sharp drop in prices of $43/ton
.
As well as Taiwan's Formosa Plastics supply expected to return to normal in April, market supply increased, manufacturers lowered prices to stimulate the market to take goods and other factors, Asia-April Asian PVC prices were lower than expected
.
The April PVC shipping quotation announced in the Asian market was down $50-60/mt from March, and also $20-30/mt
lower than the previous market expectation.
In terms of market, the PVC market of Qilu Chemical City was narrowly raised, with traders raising prices by 10-50 yuan / ton, calcium carbide 5 mainstream prices of 6380-6390 yuan / ton, and ethylene Qilu source prices of 6600-6650 yuan / ton
.
The market price of Guangzhou PVC type five was raised by 30 yuan / ton
.
The mainstream price of calcium carbide five-type material is 6380-6480 yuan / ton, and the ethylene material Dagu 1000 type 7000 yuan / ton
.
Warehouse receipt inventory, exchange warehouse receipt reported 3 lots, -0; in the historical low area, stable
during the day.
Main position: the top 20 long positions in the main contract are 101342 lots -10997 lots, short positions are 101341 lots, -10784 lots, net long positions are 1 lot, -213 lots
.
Fundamentally, the strong trend of crude oil has produced some support for prices, but the inventory of production enterprises remains high, and the sluggish demand for PVC downstream has suppressed prices to a certain extent
.
Technically, PVC1905 rebounded sharply, continuously breaking through the pressure of the 5 and 10-day moving averages, the trading volume rose sharply, and the position volume was greatly reduced, and the main position showed that the main force of the short position reduction was slightly less than the main force of the bulls, and the bears were slightly superior
.
The technical indicator MACD rebounded slightly, the green column contracted, and the KDJ indicator was low and the golden cross, showing a clear advantage
in many directions.
The fundamentals and the technical side diverge, and the short-term trend is expected to remain repeated
.
