A brief comment on the PVC market of China Plastic

On May 22, a brief comment on the PVC market of China Plastics warehouse receipts

I. brief description of the market:

today, the opening price of PVC warehouse receipts rose sharply. After the price rose slightly, it rose by the limit and closed until the end. PVC warehouse receipt index rose 24.77 points to close at 1217.40. The intraday trading atmosphere was cold, the trading volume fell sharply, and the order volume stabilized

chinaplas 2018 will be expanded in an orderly and planned way. Pv0706 was closed by the daily limit at the opening of trading today. Many buyers firmly sealed the market, and few sellers sold. It was difficult to deal in large quantities. The trading atmosphere was cold, and the order volume stabilized

pv0707 opened sharply higher today, and the intraday price rose immediately. This price remained at the end of the day, and closed at 7410 yuan/ton. The settlement price increased by 147 yuan/ton compared with the previous trading day. The trading atmosphere was cold, the transaction volume was significantly reduced, and the order volume remained stable

II. Comprehensive comments:

on Monday, due to the market's concern that the soaring share price of shisuning cloud business in Nigeria will be affected by the attack of militants, the oil price soared again. WTI and Brent closed at $66.27 and $70.49/barrel, up $1.33 and $1.07/barrel respectively. In terms of PVC spot, the ex factory price of domestic petrochemicals is generally stable. The prices in local markets today are relatively stable as a whole, the quotations in some regions are slightly higher, and the market supply is not much. Traders believe that there is still room for prices to rise, and they are still controlling the pace of shipment, while the resistance of downstream factories has increased, but they are also actively raising the product prices, and the market transaction is not very ideal. Overall, PVC rose strongly today, boosted by futures oil. Market participants are optimistic about the future market, and the rise may continue

(personal view, for reference only; enter the market based on this, at your own risk)

source of information: China plastics trading

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