The bearish trend has not changed, and PVC futures continue to decline

On the supply side, there is pressure
on the supply side in the short term.
The start of calcium carbide is still low, but the downstream PVC is also declining due to poor market conditions and temporary maintenance, and the calcium carbide market is still weak
.
At present, most PVC manufacturers have resistance to receiving orders, and the sales pressure is relatively obvious
.

On the demand side, downstream demand remains weak
.
Terminal downstream products enterprises have poor orders, fewer forward orders, continue to purchase just demand, is still in the seasonal off-season, and it is expected that the short-term demand side will continue to be weak
.

In terms of inventory, midstream inventory increased
.
PVC continued to fall, the terminal maintained rigid demand, social inventories were still at a high level and the accumulation trend continued
.

PVC fundamentals are weak, downstream demand is difficult to improve significantly in the short term, social inventory is still at a high level and the accumulation trend continues
.
In addition, there is still great uncertainty in the macro area, the trend of commodity bearishness has not changed, and short-term PVC may continue to fluctuate
weakly.
In the long term, there may be a certain rebound under the marginal improvement of "gold nine silver ten" demand, but it is expected that the space may be limited
.