PVC rebounded slightly, and the market maintained just need to purchase

In terms of news, the output of China's PVC sample enterprises in July 2019 was 1.
6136 million tons, an increase of 4.
31% month-on-month and 3.
88%
year-on-year.
The cumulative output from January to July was 11.
0637 million tons, an increase of 1.
73%
over last year.
The maintenance scale in July decreased by 19.
02% compared with June, and the production capacity increased compared with the same period last year, resulting in an increase
in production in the month.
Looking ahead, the planned maintenance scale in August will decrease by 17.
13% compared with July, and it is expected that the supply pressure of the PVC market will still rise
in August.

The FOB price in northwest Europe was stable at $630, but the price of vinyl chloride in the United States and Asia retreated
.
U.
S
.
vinyl chloride export prices fell 30 to $615/mt FOB USG, while CFR Far East and CFR Southeast Asia both fell $15 to $685 and $715, respectively.

Spot market: The PVC atmosphere in Linyi market is calm, the downstream is affected by environmental protection inspection, terminal enterprises stop production more, demand is limited, trading is not good, and market prices fluctuate
slightly.
The delivery price of Linyi market including tax is 6700-6760 yuan / ton, and the price of the whole vehicle is slightly lower
.

Warehouse receipt inventory: the exchange warehouse receipt reported 2000 lots, which is in the historical median area, +0 lots
within the day.
Main positions: the top 20 long positions in the main contract are 97651 lots -719 lots, short positions are 88270 lots, -1746 lots, and net long positions are 9381 lots, +1027 lots
.

Summary: The social inventory of PVC continued to decline month-on-month, and Inner Mongolia strengthened safety production inspections, which may reduce the operating rate of production enterprises
.
The reduction of anti-dumping duty rates by the Indian Ministry of Finance is expected to increase the export volume of PVC, which supports PVC
.
However, the intensification of the Sino-US trade war has affected market confidence, in addition, the weakening of crude oil and the correction of VCM prices have also weakened the cost support
of PVC.
At present, it is still in the off-season of PVC demand, and the operating rate of PVC downstream enterprises has also decreased significantly year-on-year, indicating that market demand is still low, and the Asian, European and American markets PVC has fallen and also suppressed domestic prices, and the light transaction in the spot market has put certain pressure
on the price of PVC.
In the later stage, with the completion of maintenance of most PVC production enterprises, the market supply is sufficient, while the orders of downstream enterprises are reduced, enterprises start work at low load, and at the same time the procurement of raw materials is more cautious, generally maintaining just purchases
.
Therefore, PVC may have adjustment pressure in the short term, and operationally, it is recommended that investors hold short orders in their hands with caution
.