印度取消BIS的认证 预计PVC期货或窄幅震荡运行

News Summary Core Viewpoint - The PVC market is experiencing a mixed situation with slight recovery in pipe production rates, while overall demand remains weak due to high inventory levels and limited downstream activity [1][3][4]. Group 1: Market Dynamics - Qilu Petrochemical has restarted a 360,000-ton facility, while LG Chem and Henan Lianchuang are undergoing maintenance on their 400,000-ton facilities, leading to a decrease in PVC capacity utilization [1]. - The current spot prices for PVC in Hangzhou are fluctuating, with prices for different grades ranging from 4,470 to 4,620 CNY/ton [1]. - Social inventory of PVC has decreased by 1.27% week-on-week to 1,028,300 tons, but shows a year-on-year increase of 23.76% [2]. Group 2: Institutional Perspectives - Guangzhou Futures notes that new production capacities from Tianjin Bohua and Zhejiang Jiahua are adding supply pressure, while downstream operating rates remain low, limiting demand improvement [3]. - Guotou Anxin Futures highlights that the cancellation of India's BIS certification has a limited overall impact, with market focus shifting to potential anti-dumping policies from India [4]. - The PVC market is expected to experience narrow fluctuations due to high supply and weak demand, with the 2601 contract projected to trade between 4,500 and 4,900 CNY [3].