echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > PVC position reduction rushed higher short-term increase is too large

    PVC position reduction rushed higher short-term increase is too large

    • Last Update: 2022-12-15
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Market situation: PVC reduced positions and rushed higher, V1909 opened 6540 tons, the highest reported 6730 yuan / ton, the lowest reported 6520 yuan / ton, closed 6700 yuan / ton, +2.
    60% from the previous trading day; 374596 volume; Position 367514, +39786 lots
    .
    Basis -$20, -$75
    .

    PVC

    News: the domestic soda ash market trend is strong, the price in Henan region is raised, the increase is large, the mainstream factory price of light alkali in the region is 1850-1900 yuan / ton
    .
    The third phase of Zhongyuan Chemical plant is shut down for maintenance, and 60% of the construction is currently started, and about 30% of Henan Junhua is started
    .
    Local supply is tight and mainstream customers
    are maintained.
    At present, domestic maintenance and load reduction enterprises involve large production capacity, downstream demand is generally acceptable, and the overall trend of soda ash is optimistic
    .

    Market: PVC market price in Qilu Chemical City was raised, affected by the rise in futures, traders raised the quotation by 0-50 yuan / ton, calcium carbide type 5 mainstream price 6590-6660 yuan / ton, ethylene Qilu source price in 6720-6780 yuan / ton
    .
    The quotation of the PVC market in Shanghai was raised, with an increase of 100 yuan / ton, and the mainstream of calcium carbide method 5 type material was 6600-6680 yuan / ton, and the ethylene method Dagu Qilu material 1000 model was sent to 6800 yuan / ton for negotiation
    .

    Warehouse receipt inventory: exchange warehouse receipt reported 0 lots; It is in the historically low area and stable
    during the day.
    Main positions: the top 20 long positions in the main contract are 128570 lots +8688 lots, short positions are 125507 lots, 12289 lots, and net long positions are 3063 lots, -3601 lots
    .

    Fundamentally, the inventory of production enterprises remains high, and the sluggish downstream demand for PVC has caused a certain suppression
    of prices.
    However, the strong trend of crude oil has provided some support to prices, and after entering April, downstream demand is expected to accelerate the recovery and also support
    prices.
    Technically, PVC1909 fell slightly, and both trading volume and position volume increased
    sharply.
    The technical indicator MACD oscillates to the upside, but the red bar is elongated, and the KDJ indicator shows signs
    of flattening at a high level.
    It shows that the strength of many parties has increased
    .
    In terms of operation, in view of the excessive short-term increase, it is recommended that investors can reduce their holdings when they rush high, and take them back
    after the return.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.