Narrow adjustment in the daily trading on the 15th. On the 14th, the news of the central bank lowering the reserve requirement was released, and the optimistic sentiment in the market revived. The futures of the night trading energy sector also rosesynchronously. However, from a fundamental perspective, the return of supply of maintenance equipment in September and the weak demand trend downstream are still the biggest drag on the market at present. It should be pointed out that we are not significantly bearish on the future market, but the increase in PVC requires the downstream to gradually increase the load and start replenishing raw materials, in order to absorb the supply of new arrivals in September as much as possible and drive the long-term stagnation of social inventory to start and dissipate. Prior to this, we still believed that PVC would be in a volatile trend and may still face a decline even when supply returns significantly and accumulates again.
Post time: Sep-18-2023