PVC workhorses rebound slightly to focus on the pressure above

News: PVC social inventory continued to decrease by 4.
64% month-on-month last week, 35.
71% year-on-year, as far as East China was concerned, it decreased by 0.
00% month-on-month and 24.
1% year-on-year, and South China decreased by 28% month-on-month and 68.
97%
year-on-year.
East China stocks are 63,000 tons, South China 09,000 tons
.

In 2018, the cumulative output of PVC sample enterprises was 19.
02 million; Production in 2019 is expected to be 19.
83 million tons, a year-on-year increase of 4%.

Spot market: the price of Hebei market is stable and small, some low-price sources have been raised by 20-30 yuan / ton, the price of 5 type materials including tax is 6760-6840 yuan / ton, the source of goods in Inner Mongolia includes tax and raises the price 6550-6630 yuan / ton, and the price without tax is 6160-6230 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts report 0 lots, intraday -0 lots
.
Main position: The top 20 long positions in the main contract are 153741 lots, +7236 lots, short positions are 142540 lots, +6998 lots, and net positions are 11201 lots, net long increases
.

Affected by environmental protection, the start of upstream production enterprises decreased slightly; Due to the pre-sale of more deliveries in the market, the spot volume of various merchants remained tight; Downstream maintenance just need to purchase
.
Far futures source procurement is not active, and the psychology of high price resistance is enhanced
.
PVC prices in the Asian market remained stable, CFR China at $830/ton, CFR Southeast Asia at $825/ton, CFR India at $855/ton; Some Asian producers are eager to
raise their January quotes.
The operating rate of PVC production enterprises last week was 78.
06%, down 1.
42% from last week and 3.
63% lower than last year; Among them, the calcium carbide method was 78.
75%, down 2.
46% month-on-month and 1.
85% lower than the same period last year, and the ethylene method was 81.
04%, an increase of 3.
37% month-on-month and 12.
41%
lower than the same period last year.

This week, the second phase of Ordos 400,000 tons of PVC plant is scheduled to be put into operation, and the supply is expected to continue to increase
.
PVC industry inventories continued to decrease by 4.
64% last week, which is also far lower than the year-on-year level, indicating that there is not much
supply pressure in the market at present.
In addition, last week, the domestic calcium carbide market rose, the market supply is in the stage of gradual consumption, and downstream purchasing manufacturers have increased their demand with the end of maintenance and load increase
.
There was a relatively serious smog in northern China, and orange warnings for heavy pollution weather were issued in many places, and production enterprises gradually reduced production
.
In terms of operation, it is recommended that investors can settle their hands on high orders and drop their bags
.