Affected by the heavy decline in crude oil, PVC opened sharply lower

News: Taiwan Formosa Plastics announced the latest quotation of December shipping schedule, CFR China rose 20 US dollars / ton at 860 US dollars / ton, CIF India rose 20 US dollars / ton at 910 US dollars / ton, FOB Taiwan at 820 US dollars / ton, large unit price discount of 10 US dollars / ton
.

Upstream price: naphtha CF Japan reported $546.
12/mt, +0.
16%; FOB Singapore is trading at $58.
49/b, +0.
38%.

ethylene CFR Northeast Asia 1040 USD/ton, +0.
97%; CFR Southeast Asia is trading at $950/mt, +1.
06%.

Domestic calcium carbide prices fell, East China reported 3340 yuan, -0%, Northwest reported 3075 yuan, -0%.

Spot market: CFR Southeast Asia quoted $850, +0%; CFR China is trading at $850, +0%.

Domestic: North China calcium carbide law reported 6500 yuan / ton, -0%; Ethylene law reported 6650 yuan / ton, +0%; East China calcium carbide method reported 6420 yuan / ton, -1.
23%, ethylene method 6750 yuan, -0%; South China calcium carbide method 6600 yuan, +0%, ethylene method 7200 yuan, -0%.

Affected by the heavy decline in crude oil, PVC1901 opened sharply lower, and then under the influence of the sharp flight of profit-taking orders, the price quickly recovered, and the final trading regained the short-term moving average, showing that the following undertaking is strong
.

Fundamentally, crude oil fell heavily, and market panic suppressed futures prices, but social inventories continued to fall, and after continuous decline, the downside space has been relatively limited
.

Technically, MACD rose slightly, but the red column was flat, indicating that the rebound is not over, and the KDJ indicator has turned around in the middle of the curve, both short-term up and down, indicating that the market trend is still repeated
.
The future market pays attention to the support of the 6350 line
.
Operationally, it is recommended that investors wait and see for the time being
.