Social inventory is high PVC futures prices are running weakly

Futures market: as of 10.
25, the main PVC closed at 5817 yuan / ton, down 1.
26% from the previous month; Top 20 main long positions: 496784 (+16322), short positions: 560494 (+21807), net short positions: 63710 (+2440).

Spot and enterprise dynamics: as of 10.
25, East China (calcium carbide method) quotation: 6010 yuan / ton (-70); South China (calcium carbide method) quotation: 6090 yuan / ton (-85); Shandong Xinfa PVC started normally, the shipment was general, the price was stable, and the 5 type factory reported 6000 yuan / ton; Ningxia Yinglite's 220,000-ton PVC type plant started at full load and has a certain amount of inventory
.
The quotation within the day is stable, the factory quotation of type 5 calcium carbide acceptance is 5900 yuan / ton, and the factory quotation of type 3 calcium carbide acceptance is 6100 yuan / ton, some negotiations
.

Basis: As of 10.
25, South China basis -11; East China basis +4; basis slightly weakened
.

Upstream raw materials: as of 10.
25, North China calcium carbide quotation was 4300 yuan / ton, up 35 yuan / ton from the previous day; Shaanxi Lanchar quoted 1576 yuan / ton, no change
from the previous day's price.

The domestic spot market followed the futures market to further cool, and spot prices maintained a deep premium
.
The market has strong expectations for the recovery of late starts, pressure on new capacity and weakening demand
.
Peripheral quotations were lowered, further reducing export profits, and weak exports coupled with domestic demand did not improve, resulting in delays in starting destocking
.
PVC futures prices are under great pressure
.