June PVC Spot & Futures Price Trend
The price trend of the PVC spot market this month showed a certain slight upward trend. After the main futures contract reached its lowest point on May 29, it bottomed out and rebounded slightly in June, but the futures and spot markets were somewhat separated within the month.
The influencing factors of the futures and spot markets in June can be summarized as follows:
1. The operation of the futures market showed a certain good upward trend within the month, and even broke through the upper rail pressure level after entering the second half of the month, with a monthly high of 4945. The main contract fell to the bottom in May and recovered slightly in June. From the perspective of the futures price operation trend, the lower range is basically determined.
2. In terms of PVC supply, the operating load of PVC units decreased in June, and the loss of unit maintenance increased. Although social inventory is still at a high level, the reduction in PVC supply has alleviated the shipment pressure of enterprises to a certain extent.
3. Demand performed poorly during the month. With the slight increase in prices in the futures and spot markets, the downstream basically maintained small purchases of rigid demand when the price advantage was not large. The excessively high prices relatively suppressed the generation of demand.
The downstream did not buy the decline, and the enthusiasm for taking goods was slightly sluggish in June as a whole. In addition, under the game at the supply and demand level, the weak fundamentals caused the prices of the futures and spot markets to deviate, and the adjustment range of spot prices was far less than that of the futures prices.
4. The conflict between Israel and Iran that began on June 13 caused a sharp rise in crude oil products, and PVC was also driven, but on the evening of June 23, both sides agreed to cease fire. The news of the end of the "12-day war" between Israel and Iran caused many domestic energy and chemical products to hit the limit. Commodity sentiment weakened
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