The market is still oversupplied and the main force of PVC has fallen

News: Taiwan Plastics PVC quotation in April was lowered by $50/ton from March, reported at $850/ton CFR India, $810/ton CFR South China ports/Southeast Asia, FOB Taiwan at $790/ton
.

Spot market: PVC market in Qilu Chemical City is sideways, and the offer is stable
.
The price of calcium carbide type 5 is 6130 yuan / ton, the price of ethylene Qilu S1000 is 6180 yuan / ton, and the price of S700 is 6320 yuan / ton.

Warehouse receipt inventory: exchange warehouse receipt reported 4520 lots, intraday -20 lots
.
Main positions: The top 20 long positions in the main contract are 113711 lots, -5721 lots, short positions are 93536 lots, -13440 lots, and the net position is 20175 lots, net long increases
.

Summary: The accelerated spread of the overseas epidemic has caused concern, and the weak trend of crude oil has also hit market confidence
to a certain extent.
And the operating rate of PVC production enterprises has rebounded, and social inventory is still high, indicating that the market is still oversupplied
.
Formosa Plastics' reduction in PVC prices in April also suppressed
domestic prices to a certain extent.
However, with the passage of time, PVC downstream products enterprises began to resume work
one after another.
And the price of vinyl chloride in Asia is firm, which is expected to support the price of PVC
.
Operationally, investors can set short orders in their hands to take profit and hold
them cautiously.