A brief comment on the PVC market of China Plastic

On October 24, China Plastics warehouse receipt PVC market brief comment

I. market brief:

international futures oil continued to fall. Today, PV passenger cars joined the layout of new energy to further improve the utilization space of aluminum. C warehouse receipt opened sharply lower and closed down in the late trading. 11: At 00, the warehouse receipt index closed at 1088.17, down 16.97 points from the previous trading day. The trading atmosphere was cold. Pv0610 and pv0612 had no trading today, and the overall volume of both fell slightly

pv0611 opened 100 yuan/ton lower today, and rebounded after further intraday price decline. It closed at 6800 yuan/ton at the end of the day, but still closed down. The settlement price was 106 yuan/ton lower than yesterday. From the disk view, today's pv0611 transaction was more active, the trading volume increased slightly according to the experimental data, and the order volume fell slightly. The strength of disk sellers is dominant

II. Comprehensive comments:

as the market expressed doubts about whether OPEC would implement the production reduction plan announced last week, the international oil futures continued to decline. WTI and Brent closed at $58.81 and $59.21/barrel, down 0.52 and $0.47/ton respectively after 10 years of canned packaging. Ethylene prices in the Far East fell $50/ton. In terms of PVC spot, the ex factory price of domestic petrochemicals remained stable. The market trend around the country is sluggish, local prices have fallen slightly, and the market performance is average. Downstream demand tends to be weak, and it is difficult to deal in large quantities. The wait-and-see atmosphere is heavy with Portland cement and ordinary portland cement, and the mentality of market participants is flat

overall, the market trend is weak, and the future trend is difficult to reverse in the short term

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

source of information: China plastics trading

note: the source of this reprint is indicated. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content