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Want to know the role of PVC futures in the market, you can add me Baidu hi, I will send you some PDF documents ... it should help and warn you!

In fact, the listing of PVC futures has little effect on Zhong Da's shares, mainly because there are more speculative ingredients. If it is good ... Generally speaking, if the price of raw materials rises or falls, Zhong Da stocks can use PVC futures to hedge their risks. For example, if you make plastic packaging now, the price of raw material PVC is rising every day, which means that your cost is also rising every day. If you buy more futures contracts, if PVC continues to rise, you can use the rise of futures contracts to offset the rise of your cost price. If the price of PVC falls, your futures contract will lose money, but your cost will fall ... your profits will increase ... and offset each other ... but many companies will use futures contracts to gamble and speculate, which may be contrary to the original intention of futures launch. ..

The related concept stocks of PVC are actually

name of code

002092 Zhongtai Chemistry

600075 Xinjiang Tianye

000953 Hechi chemical industry

000930 fengyuan biochemical

000635 Yinglite

0005 10 Lu Jin group

6006 18 chlor-alkali chemical industry

6003 19 Yaxing chemical industry

600500 Sinochem International

60030 1 South China Stock

0008 18 Jinhua chlor-alkali

Galaxy Securities PVC futures are good in the short term and bad in the medium and long term.

1. event

China Securities Regulatory Commission recently approved Dalian Commodity Exchange to conduct PVC futures trading. In accordance with the relevant provisions of the Regulations on the Administration of Futures Trading and the Measures for the Administration of Futures Exchanges, the CSRC will approve the PVC futures contract listed by Dashang as soon as possible after all preparatory work is completed and relevant procedures are fulfilled.

2. Our analysis and judgment

(A) China's PVC industry has a serious overcapacity.

Due to the serious overcapacity of PVC industry in China, under the influence of the current global financial crisis, the consumption of PVC for real estate, buildings and building materials is rapidly declining. We predict that in 2009- 10, the supply of PVC industry in China will exceed demand by about 8 million tons, and the average operating rate of PVC enterprises can only be about 50%.

(2), ethylene method, acetylene method will not be very good.

The market generally believes that with the downward cycle of international oil prices, ethylene PVC is superior to acetylene PVC, and it is optimistic about ethylene PVC. We believe that the rigidity of downstream demand in PVC industry is declining, which is greatly affected by subprime mortgage and financial crisis. In particular, China's PVC production capacity is seriously overcapacity, and PVC production enterprises by ethylene method cannot have much advantage. In the next few years, the whole company will be on the verge of loss and profit.

3. Investment suggestion The launch of PVC futures is a good opportunity to reduce the PVC industry.

Due to the serious overcapacity in China's PVC industry, PVC futures are short-term catalysts for industry performance. Even if PVC futures promote the short-term rebound of product prices, costs will rise at the same time, and profits will not increase quickly for enterprises. Therefore, we think this is a good opportunity to reduce our holdings in the PVC industry, so we continue to maintain a neutral rating on this industry.