Limited upward momentum PVC maintains range-bound volatility in the short term

Raw material prices: 1, Japan naphtha CF Japan reported 512.
625 yuan / ton, up 4.
51; naphtha FOB Singapore reported 55.
74 US dollars / barrel, up 0.
46
.
Ethylene CFR Northeast Asia was at $1170/ton, up 60, and CFR Southeast Asia was at $1035/ton, up 30
.

Spot market: The price of some domestic PVC spot market is basically flat
.
North China calcium carbide law reported 6300 yuan / ton, up 20; ethylene law reported 6740 yuan / ton, flat; East China calcium carbide law reported 6400 yuan / ton, flat
.
South China calcium carbide method reported 6350, flat, ethylene method 6950 tons, flat
.
The price of raw materials was basically flat, with East China reporting 3,310 yuan, flat, and Northwest reporting 3,000 yuan, flat
.

News side: 1, Henan Pingdingshan Shenma PVC reference quotation, calcium carbide method 5 type material for outside the province reference 6150 yuan / ton cash exchange, the province quotation is 50 yuan / ton, the new plant 300,000 tons / year device start about 3-4 percent, a small amount of inventory, the transaction can be negotiated
.

The Spring Festival is approaching, the middle and lower reaches are basically stopped, the spot market quotation is not much, and the futures price is temporarily premium spot, the downstream is still in the off-season after the holiday, but the overall inventory is not much, the fundamentals lack guidance, it is expected that the price increase momentum is limited, and the short-term maintenance range shock
.
Technically, the PVC1705 contract closed down in volatility, the futures price tested support around 6350 below, the pressure around 6600 was tested above, and the futures price or maintained in the 6400-6600 range oscillation, it is recommended to take a short position around 6600, and the target is 6350
.