The decline in social inventories slowed down and PVC futures prices fell slightly

News: 1.
As of the end of last week, domestic PVC social inventory increased by 1.
34% month-on-month, 1.
23% year-on-year, as far as East China was concerned, it increased by 1.
82% month-on-month and 0.
45% year-on-year, and South China decreased by 1.
23% month-on-month and increased by 5.
79%
year-on-year.
East China stocks are 224,000 tons, South China 40,200 tons
.
2.
In July 2020, the export volume of paving materials was 511,000 tons
.
This is a significant
increase from the previous month.
From January to February 2020, the export volume of paving materials was 552,700 tons, the export volume in March was 285,000 tons, the export volume in April was 389,200 tons, the export volume in May was 400,640 tons, and the export volume of paving materials in June was 465,700 tons
.

Market quotation: the mainstream price of SG-5 in Changzhou market in East China is 6580 yuan / ton, -50
.
Warehouse receipt inventory: 2803 warehouse receipts, +441
.

Main positions: Top 20 long positions 144244, -1603; short positions 146792, -10269
.
Reduced
headroom.

Summary: The increase in PVC prices in Asia has supported the domestic market
.
In September, many installations still had maintenance plans, and the decline in PVC social inventory slowed down, but it was still lower than the same period last year, indicating that the pressure on PVC supply was not large
.
However, crude oil prices have weakened, and new installations are planned to be put into operation in the middle and late months, and it is expected that the supply will gradually increase
in the later period.
This factor may limit the upside
of PVC.
In terms of operation, it is recommended that investors can set the take profit in their hands and hold
them cautiously.