Insufficient demand for PVC is difficult to support prices to rise sharply

News: PVC social inventory continued to maintain a downward trend this week, down 2.
60% from last week and 41.
60% higher than last year, of which East China fell 1.
56% month-on-month and increased 51.
50% year-on-year; South China decreased by 5.
62% month-on-month and increased by 18.
31%
year-on-year.

Spot market: PVC spot market quotations fell slightly, calcium carbide spot quotations in North China fell slightly, S-G5 type fell 10-100, reported 6900-7090 yuan / ton; Ethylene fell 30 to 7,000 yuan / ton
.
The quotation of Changzhou calcium carbide method in East China was flat, reported at 6950 yuan / ton, and the quotation of ethylene method was 7300 yuan / ton; The quotation of calcium carbide method in South China was flat, holding at 7040-7140 yuan / ton; Ethylene quotations fell 10 to 7200 yuan / ton
.

Warehouse receipt inventory: exchange warehouse receipts reported 7680 lots, +0 lots
within the day.
Main positions: The top 20 long positions in the main contract are 161232 lots, -3909 lots, short positions are 167152 lots, -2579 lots, and net long positions are -5920 lots
.

Summary: Affected by the increase in equipment maintenance in May, the market supply pressure is not large, but the Sino-US trade problem, PVC products export orders are affected, and the lack of demand is difficult to support the price to rise
sharply.
Technically, PVC1909 closed out of the long upper shadow, the upward momentum of the futures price is insufficient, the short-term lower focus on support around 6750, and the upper test of the 7000 mark pressure
.
In operation, it is recommended to sell high and suck
low in the range of 6850-7000.