Home Business Ruida Futures: PVC fluctuated lower and more than single rallies to reduce holdings | Energy & Petrochemical_Sina Finance_Sina.com

Ruida Futures: PVC fluctuated lower and more than single rallies to reduce holdings | Energy & Petrochemical_Sina Finance_Sina.com

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Original title: Ruida Futures:PVCShocks and declines, multiple single rallies to reduce holdings. Source: Ruida Futures

Ruida Futures: PVC fluctuates and declines, more than one rallies to reduce holdings

Disk situation: The V2109 contract contracted volume and reduced its position, and the futures price fluctuated lower. The day closed at 9145, which was -85 yuan compared with the previous trading day; the trading volume was 302,130 hands, and the open interest was 436,286 hands, -18159; the basis was 135.

News: 1. China’s apparent PVC consumption in June 2021 was 1.8345 million tons, an increase of 7.75% from May, and an increase of 2.77% year-on-year; the cumulative apparent consumption from January to June was 10.57298 million tons, an increase of 4.07% year-on-year . The actual consumption from January to June was 10,598,900 tons, a year-on-year increase of 3.48%. 2. In June 2021, PVC imports were 24,250 tons, an increase of 16.59% month-on-month. Among them, the general trade is only 4,100 tons, and the processing of imported/consumed materials is 19,900 tons. PVC exports were 129,500 tons, a decrease of 40.1% from the previous month. Among them, 98,800 tons of general trade and 29,900 tons of processed materials.

Market price: The mainstream price of SG-5 in Changzhou market in East China was reported at 9280 yuan/ton, -20.

Warehouse receipt inventory: 1835 warehouse receipts, -60 pieces.

Main positions: the top 20 long positions are 309237, -17041; short positions are 285705, -5590. The net amount is reduced.

Summary: Last week, the PVC operating rate decreased from the previous week, mainly due to severe power cuts in Inner Mongolia and Ningxia, which led to a sharp decline in the operating capacity of calcium carbide installations and insufficient market supply. Some calcium carbide PVC production enterprises showed signs of reducing their production. The PVC market supply has decreased. The start of PVC downstream products enterprises is still at a relatively low level, and only a few low starters have increased slightly. As the price of PVC is at a high level, downstream companies basically maintain just-needed purchases, and the intention to stock up is not high. The domestic PVC social inventory has rebounded from the previous month, indicating that the current market supply is still relatively sufficient. Formosa Plastics lowered its August cargo quotation, which suppressed prices to a certain extent. Today, the V2109 contract fluctuates lower, and the market outlook is expected to test the 9050 first-line support. In terms of operation, investors are advised to reduce their holdings on rallies and lose their pockets.

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