Recent fundamentals are calm PVC lacks further upward drive

Spot and enterprise dynamics: as of 8.
15 days East China (calcium carbide method) quotation: 6560 yuan / ton (0); South China (calcium carbide method) quotation: 6650 yuan / ton (0); Shandong Xinfa PVC started to basically full load, shipments are general, the price is reduced, and the 5-type factory report is 6400 yuan / ton cash exchange
.
Shaanxi Northwest Yuan PVC plant started full load, the price was reduced, and the 5 type factory was 6430 yuan / ton acceptance
.

Upstream production profit: as of 8.
15 Northwest chlor-alkali profit of 893 yuan / ton, no change
from the previous day.
Shandong chlor-alkali profit was 145.
12 yuan / ton, down 29.
17 yuan / ton
from the previous day.

Basis: 8.
15 South China basis +134; East China basis +134; basis slightly stronger
.

Upstream raw materials: as of 8.
15, the quotation of North China calcium carbide was 4540 yuan / ton, which was unchanged from yesterday's price; Shaanxi Lanchar quoted 1250 yuan / ton, no price change
from yesterday.

Recently PVC fundamentals are calm, excessive social inventory and weak demand suppress further price increases; Although the government has set the tone of "ensuring the delivery of buildings and stabilizing people's livelihood", it will continue to encourage local governments to relax the real estate market
according to urban policies.
Although the willingness to stabilize the real estate market has improved, the implementation of policies and the reaction of the real estate market remain to be seen
.

The current demand situation, combined with the fundamental situation, is difficult to provide a further price increase; However, the relatively strong calcium carbide price at the PVC raw material end gave PVC temporary price support
.
In summary, treat the current price trend with "bottom range shock", maintain a cautious view on the PVC trend for the time being, and maintain a wait-and-see
view.