A brief comment on the PVC market of China Plastic

On November 9, a brief comment on the PVC market of China Plastics warehouse receipts

I. brief description of the market:

after the overall PVC warehouse receipts opened slightly lower today, the medium-term trend of the price provided a basis for the spring design to be stable. In the later stage, it rebounded with the boost of the market, and closed up in a narrow range at the end. 11: The PVC warehouse receipt index closed at 1094.66, 3.76 points higher than yesterday. In terms of trading, the transaction volume today is generally flat compared with yesterday. On the K-line chart of the index, it closed short today and crossed the 10th line on the 5th line

pv0612 opened low and went high, closing at 6800 yuan/ton in late trading, up 62 points from yesterday, with a range of 0.92%. On the disk, today's wait-and-see atmosphere is strong, there are few pending orders, and the transaction is not smooth. On the K-line chart, a short sun is hanging today, and the center of gravity is moving up

II. Comprehensive analysis:

international crude oil recovered on Wednesday, WTI's recent monthly oil contract rose 90 cents to 58.93 US dollars/barrel, the upstream monomer Asian ethylene fell slightly, CFR Northeast Asia fell 10 points, and the highest price was 1105 US dollars/ton. In terms of spot goods, the ex factory price of petrochemicals stabilized today. Yuyao plastic only needs to measure its maximum load FM value, and the price of PVC raw materials in Liaocheng has not changed. Traders operate cautiously, mostly on the sidelines, and the mainstream price is still 7600-8000 yuan/ton. On the whole, the fundamentals are lack of hot spots, and the weak pattern has not changed much. It is expected that the short-term PVC warehouse receipts will continue to oscillate, and the trend needs to be further explored

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

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