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Recently, affected by the improvement of market supply and the poor reception of downstream goods, PVC market turned into a downward trend. PVC futures are weak and volatile, which has certain impact on the spot market price, and the market price is under pressure. In addition, the spot price difference has reached a new high, up to about 570 yuan / ton. As can be seen from the above figure, in the fourth quarter of 2019, the price difference of PVC term gradually expanded, basically maintaining between 500-600 yuan / ton, while the futures price is far lower than the spot price, beyond the normal range. Therefore, from the perspective of spot price difference, it will gradually repair in the later stage and get on the right track, and the possibility of substantial decline in spot price is rather large.

On the futures side, as of December 25, Dalian futures pvc2005 contract opened at 6535, the highest 6535, the lowest 6480, and closed at 6495, down 15, or 0.23%. Trading volume was 140420, with positions increased by 3942 to 443094. Technically, KDJ index continued to diverge downward, MACD index green column further extended, SAR index appeared short signal, indicating that the strength of the air side has increased, and PVC futures are expected to maintain weak shocks in the short term. Pay attention to 6700 line pressure at the top and 6400 line support at the bottom. In terms of operation, it is recommended to continue holding empty orders and operate cautiously.

In terms of spot goods, the PVC manufacturer has completed the maintenance, started well, and the supply will increase to some extent. In addition, some enterprises have the expectation of new production capacity, such as Erdos chlor alkali, etc.; the tight supply of goods in the market has been eased, some traders have lowered their prices and shipped goods, with a strong mentality of short supply; the downstream receiving goods is poor, and the demand is basically maintained. In addition, it is understood that Hebei, Henan and other regions are subject to environmental protection inspection Check the impact, the commencement is low, and some areas are basically shut down.
 The future market still needs to pay attention to the influence of macro aspect, futures trend, national policy and downstream receiving at any time.