The answer is straightforward. The first point is futures. The mutant virus caused market panic, crude oil plummeted, and futures of chemical products continued to fall, and PVC futures were no exception. The continuous decline of PVC futures will inevitably affect the atmosphere and trend of PVC spot market;

The second point is the influence of demand. The fourth quarter is the off-season of demand in previous years. In addition, with the continuous start of construction this winter, the price of PVC remains high, and downstream product enterprises are particularly cautious in taking goods. Most of them have no plans to hoard goods for a long time, and basically maintain the principle of buying while walking;

The third point is the reason for the spot price difference correction. At present, the spot price is falling, and the possibility of basis correction is not ruled out. The long-term premium of spot to futures is an abnormal performance, so the abnormal situation will inevitably be alleviated or eliminated, that is, the basis will be repaired.