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    Home > Chemicals Industry > New Chemical Materials > Weak fundamentals PVC futures price rebound is highly limited

    Weak fundamentals PVC futures price rebound is highly limited

    • Last Update: 2023-02-02
    • Source: Internet
    • Author: User
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    As of 1.
    5 days, the northern off-season coupled with downstream production enterprises is about to take a holiday, weak fundamentals will inhibit the height of PVC futures price rebound, weak demand expectations are difficult to support the price to continue to rise, short-term must observe the effective decline of inventory; long-term need to pay attention to the implementation of economic and real estate policy packages
    It is recommended to wait and see
    for now.


    Futures market: as of 1.
    5 days, the main PVC closed at 6218 yuan / ton (-0.
    34%); Top 20 main long positions: 388523 (+9077) Short positions: 472519 (+9277); Net short position: 83996 (+909).

    Spot: as of 1.
    5 days East China (calcium carbide method) quotation: 6150 yuan / ton (0); South China (calcium carbide method) quotation: 62330 yuan / ton (0).

    Blue charcoal: as of 1.
    5 days Shaanxi 1366 yuan/ton (0).

    calcium carbide: as of 1.
    5 days North China 4130 yuan / ton (0).

    Viewpoint: The operating load of domestic PVC production enterprises continues to increase; There are no new maintenance enterprises, and the output of some low-load production enterprises in the early shutdown has increased this week; In terms of calcium carbide at the raw material end, the ex-factory price has risen in some areas, and the supply is tight, and the downstream is actively purchasing calcium carbide due to the burden of PVC production enterprises; Due to the high price resistance in the PVC spot market, the downstream pre-holiday stocking sentiment is not high, and as the Spring Festival approaches, downstream product companies have successively taken holidays, further weakening demand; Just need to weaken, the company inventory is expected to accumulate; Short-term weak fundamentals inhibit prices from moving higher, but macro long-term good expectations are still there, superimposed on calcium carbide, the downside is also limited; It is recommended to wait and see
    for now.

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