[Cable Network News] On Monday, the PVC V2201 contract contracted and the futures price fluctuated higher. It closed at 9460, +65 yuan compared with the previous trading day; the trading volume was 383,082 lots, and the open interest was 541,638, +7902; the basis was 140.
News: 1. Statistics from Longzhong show: As of September 6, domestic PVC social inventory was 139,300 tons, 1.16% from the previous month, and 47.27% year-on-year; among them, 106,300 tons in East China, 0.57% from the previous year. , 52.54% of the depot year-on-year; 33,000 tons in South China, 3.12% of the month-on-month depot, and 17.91% of the depot year-on-year. 2. Last week, the operating rate of Longzhong Information's 31 home appliance stone sample enterprises (involving a production capacity of 15.41 million tons) was 69.7%, a decrease of 9.67% from the previous week. The supply of calcium carbide is still tight.
Market price: The mainstream price of SG-5 in Changzhou market in East China was reported at 9600 yuan/ton, +0.
Inventory of warehouse receipts: 2690 warehouse receipts and +1107 warehouse receipts. Main positions: the top 20 long positions are 382183, +102768; short positions are 322396, -4431. Net idling net long.
Summary: Last week, the PVC operating rate dropped from the previous month, and the PVC market supply decreased. However, domestic PVC social stocks have stopped falling and rebounded for three consecutive weeks, indicating that the market is adequately supplied. Last week, the start of PVC downstream products companies did not change much, and the demand was tepid. The export of some enterprises' products was restricted by shipping, which resulted in orders that fell short of expectations. Taiwan's Formosa Plastics Group has its equipment overhauled this week. Inner Mongolia's electricity curtailment remains unchanged, and the supply of calcium carbide is tight. The recent impact of the hurricane in the United States has reduced the supply of energy and chemical products and the strong domestic coal trend is expected to provide certain support to PVC. The V2201 contract fluctuated higher during the day, indicating that the bulls still have an advantage.
